To The Trained Eye, NV Betting On The Kentucky Derby Will Look Different

The Kentucky Derby is set to resume its usual spot as the “First Saturday In May” this weekend. Similar to numerous sports events last year, the much-anticipated Run For The Roses was delayed until September due to the coronavirus pandemic.

The Kentucky Derby was on the brink of being excluded from the sports betting calendar for the second consecutive year. The ongoing conflict between Churchill Downs and the Nevada Pari-Mutuel Association (NPMA) has persisted for almost 18 months.

Fear not, just like in 2020, the race will continue in Nevada casinos. The majority of people won’t notice any difference. However, those involved in pari-mutuel betting will realize that it’s not quite the same as placing bets on a horse race within a casino any other day of the week.

Nevada Gaming Commission steps in

The 147th Kentucky Derby, set for Saturday, May 1, will be accessible for viewing and betting in Nevada sportsbooks. The Nevada Gaming Commission (NGC) once again had to intervene and approve alternate measures at its meeting on April 22.

The revision of Regulation 22 now permits sportsbooks to determine race results and calculate payouts using the televised race. Usually, Regulation 22 mandates that sportsbooks establish the winners and payouts for horse race wagers using data received from an authorized source.

Currently, bettors in Nevada are unable to view or place bets on races at Churchill Downs tracks. However, the NGC amendment will enable sportsbooks to facilitate betting on the Kentucky Derby, in particular, as it will be broadcast on television. An exception has also been made for the Kentucky Oaks.

Unlike the majority of horse races, which are not available on free TV, the Kentucky Derby is a notable exception. Its popularity is so high that it necessitates being accessible for viewing or betting within a casino. The spectacle of the actual event is also replicated in casinos across Nevada.

Negotiations between the NPMA and Churchill Downs are set to go on beyond 18 months following the collapse of a previous deal between them. The implications of this amendment could be either advantageous or detrimental to a sportsbook operator in Nevada. Even though the companies stand to retain more profits from the race, it also means they have to put in more effort.

Betting on the Kentucky Derby

Wagering on the Kentucky Derby will be quite different across all Nevada sportsbooks. Some operators, such as Circa Sports, only provide futures and prop bets for more prominent horse races. This operator does not accept standard win-place-show pari-mutuel bets on horse races.

Racebooks offering pari-mutuel betting will have a unique betting menu. They will not permit bets such as the Daily Double or Pick 4, as these encompass several races not featured on free television. The range of wagering events sportsbooks can provide for the Kentucky Derby will be restricted.

Confusion can also arise within various sportsbook operator locations owned by the same operator. Take William Hill for instance; while some of their locations provide pari-mutuel betting, others located throughout the state don’t accept pari-mutuel wagers.

William Hill uses signs to indicate if pari-mutuel bets are accepted at a particular location. However, customers may not always notice these signs. For example, in 2019, a bettor in northern Nevada missed out on a substantial payout from William Hill because he overlooked the sign stating that pari-mutuel bets were not accepted at that location.

Finally, sportsbooks may impose payout limitations for unique bets. If a bettor misses this information, it could lead to confusion. For instance, a sportsbook might set a maximum win limit at $10,000. If several underdogs unexpectedly take the top three positions, a bettor in Nevada may not receive the full worth of a win if it exceeds $10,000. Regrettably, the bettor might see the actual value on TV and become frustrated that they’re not receiving the full amount.

In Nevada, when placing a bet on the Kentucky Derby, it is essential that everyone familiarizes themselves with the rules provided in the sportsbook. If unsure, it is advisable to ask the ticket writer if there have been any updates or changes in the betting process for the Run for the Roses.