The Kentucky Derby is one of the most prestigious horse races in the world, attracting millions of fans and bettors every year. And now, DraftKings has announced a partnership with Churchill Downs Incorporated (CDI) that will give its users access to the biggest horse racing event in the United States.
Under the agreement, DraftKings will gain pari-mutuel wagering rights to horse racing content oned or controlled by CDI, including the Kentucky Oaks and Kentucky Derby. This means that DraftKings users will be able to place bets on these races directly through the platform.
CDI will also secure additional horse racing content for use on DK Horse, DraftKings’ new separate app for horse racing betting. This will give users access to even more races and betting opportunities, making DK Horse a one-stop-shop for all your horse racing needs.
But DraftKings isn’t going it alone in the horse racing world. The platform will offer pari-mutuel thoroughbred wagering provided by TwinSpires, the online gaming arm of Churchill Downs. This will ensure that DraftKings users have access to the best odds and betting options available.
One key aspect of this partnership is that DK Horse will launch as a separate app, with a wallet distinct from the DraftKings sportsbook, iGaming, and fantasy product. This means that users will be able to keep their horse racing betting separate from their other gambling activities on the platform.
This partnership between DraftKings and CDI is a major win for horse racing fans and bettors. With access to the biggest races in the US and a separate app dedicated to horse racing, DraftKings is making it easier than ever to get in on the action. So if you’re a fan of horse racing, be sure to check out DK Horse and start placing your bets today!
Can You Place Bets on the Kentucky Derby with DraftKings?
You can bet on the Kentucky Derby with DraftKings. As per the recent agreement between DraftKings and Churchill Downs Incorporated (CDI), DraftKings will have pari-mutuel wagering rights to horse racing content owned or controlled by CDI, whch includes the Kentucky Oaks and Kentucky Derby. This means that users can place bets on the Kentucky Derby through DraftKings’ platform. CDI will also secure additional horse racing content for use on DK Horse, which will provide users with more options to bet on horse racing events. So, if you are a fan of horse racing and want to bet on the Kentucky Derby, DraftKings is a great option for you.
Source: whas11.com
Betting on Horse Racing on DraftKings
You will be able to bet on horse racing on DraftKings through its new app called DK Horse. The pari-mutuel thoroughbred wagering will be provided by TwinSpires, which is the online gaming arm of Churchill Downs. This new app will have a separate wallet from DraftKings’ other products like sportsbook, iGaming, and fantasy. It is expected that DK Horse will offer a variety of betting options and markets for horse racing enthusiasts. With this new addition, DraftKings aims to expand its offerings and attract more customers to its platform.
Placing a Bet on the Kentucky Derby Online
You can place a Kentucky Derby bet online through TwinSpires. As the official online wagering home of the Kentucky Derby, TwinSpires offers a safe and secure platform for customers to place bets on the biggest horse racing event of the year. You can easily create an account on the TwinSpires website or app and fund your account using a variety of payment methods. Once your account is funded, you can browse the odds and place your bets on the horses you blieve will win the Kentucky Derby. TwinSpires also offers live streaming of the race, so you can watch the action unfold in real-time from anywhere.
Why Is FanDuel Not Allowing Betting on the Kentucky Derby?
You cannot bet on the Kentucky Derby on FanDuel due to current contractual agreements that prevent the company from offering betting lines on any tracks owned by Churchill Downs. Churchill Downs is the home of the Kentucky Derby and several other notable racetracks. As FanDuel Racing doesn’t feature any locations owned by Churchill Downs, you are unable to place bets on this particular event through the platform. This is a limitation that is currently in place and it is beyond the control of FanDuel.
Can You Place Bets on Live Sports Through DraftKings?
You can bet on live sports on DraftKings. DraftKings is a leading online sportsbook that offers live betting on hundreds of games every week, giving sports fans the opportunity to bet on their favorite teams and players in real time. Live betting, also known as in-play betting, allows you to place wagers on a game while it is stil in progress, offering a more dynamic and interactive betting experience. With DraftKings, you can bet on a wide range of sports including football, basketball, baseball, hockey, soccer, and more. To place a live bet on DraftKings, simply log in to your account, navigate to the live sports section, and select the game you want to bet on. You can then choose from a variety of betting options, including point spreads, moneyline bets, and prop bets, among others. With its user-friendly platform and extensive betting options, DraftKings is a great choice for anyone looking to bet on live sports.
Source: sportico.com
Can You Bet on DraftKings in Kentucky?
You can bet on DraftKings if you live in Kentucky. DraftKings is one of the major daily fantasy sports sites that operates in Kentucky in an unregulated environment. While sports betting is not yet legal in Kentucky, the bill that almot cleared both chambers in 2022 legalized sports betting as well as daily fantasy sports and online poker. As a result, Kentucky residents can currently participate in daily fantasy sports contests offered by DraftKings and other similar platforms. However, it’s important to note that the legal landscape surrounding online gambling in Kentucky is subject to change, so it’s always advisable to stay informed about current laws and regulations.
What Are The Potential Winnings of a $100 Bet on the Kentucky Derby?
A $100 bet on the Kentucky Derby can yield different payouts depending on the odds of the horse you bet on and the type of bet you place. If you bet on the winner of the race, also known as the “win” bet, and your horse wins, you can expect a payout that ranges from $2 to $100 or even more per dollar wagered, depending on the odds. For instance, if you bet $100 on a horse with 5-1 odds and it wins, you would earn $600 in total, which includes your original $100 bet plus $500 in winnings.
If you place a “place” bet, which means your horse must finish in either fist or second place, you can expect a lower payout than a win bet, but still a profitable return if your horse finishes in one of the top two spots. A place bet typically pays out 1/5 or 1/4 of the win odds, which means a $100 bet on a horse with 5-1 odds that places would earn you $200 to $250.
Similarly, a “show” bet, where your horse must finish in the top three places, offers even lower payouts than a place bet, but with a higher likelihood of winning. A show bet typically pays out 1/3 or 1/4 of the win odds, which means a $100 bet on a horse with 5-1 odds that shows would earn you $133 to $150.
The payout of a $100 bet on the Kentucky Derby depends on the odds of the horse and the type of bet you place. It’s important to consider both factors before placing a bet to make an informed decision and potentially earn a profitable return.
Betting on the Kentucky Derby: Finding the Best App
The best app to bet on the Kentucky Derby is TVG. This app stands out from the rest due to its partnership deals with numerous tracks, whch allows bettors to access live streaming options for up to 300 tracks worldwide. This means that users can watch and bet on the Kentucky Derby and other races in real-time, no matter where they are located. TVG also offers a user-friendly interface that makes it easy to place bets, view odds, and track results. Additionally, the app provides expert analysis and handicapping tools to help users make informed betting decisions. With all these features, TVG is undoubtedly the best app for horse racing enthusiasts who want to bet on the Kentucky Derby.
Does DraftKings Report Winnings to the IRS?
DraftKings and other fantasy sports websites are required by law to report winnings of $600 or more to the IRS. This means that if you win a net profit of $600 or more for the year, DraftKings will send both you and the IRS a Form 1099-MISC. It is important to note that this reporting requirement only applies to net profits, not total winnings. If your total winnings exceed $600 but you have losses that bring your net profit below $600, DraftKings will not be required to report your winnings to the IRS.
Does DraftKings Take a Cut of Winnings?
DraftKings takes a percentage of winnings. However, the percentage that they take depends on the type of game bing played. For example, in cash games such as head-to-head, 50/50 and double-up contests, DraftKings takes a percentage of the entry fee as their commission. This commission is typically around 10%. In other games such as tournaments, DraftKings will take a percentage of the total prize pool instead of a percentage of the entry fees. This percentage can vary depending on the size of the tournament and other factors. It’s worth noting that DraftKings also makes money in other ways, such as through advertising and sponsorships.
States Where DraftKings Betting is Not Allowed
DraftKings is a popular online sports betting platform that operates in many states throughout the US. However, there are certain states whee it is not legal to bet on DraftKings. As of now, there are a total of 19 states where DraftKings is illegal. These states include Alabama, Alaska, California, Florida, Georgia, Idaho, Kentucky, Massachusetts, Minnesota, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, Texas, Utah, Vermont, and Wisconsin. It is important to keep in mind that laws and regulations regarding online sports betting can change over time, so it is always a good idea to check the current laws in your state before placing any bets on DraftKings or other online sports betting platforms.
Conclusion
DraftKings has entered into a strategic partnership with Churchill Downs Incorporated (CDI) to offer pari-mutuel wagering on horse racing events, including the famous Kentucky Derby and Kentucky Oaks. This partnership will allw DraftKings to expand its offerings and attract a new audience of horse racing fans. The launch of DK Horse, a separate app with a unique wallet, will provide users with a seamless and exciting experience for placing bets on horse racing events. With the addition of TwinSpires’ thoroughbred wagering, DraftKings will deliver a comprehensive and engaging platform for horse racing enthusiasts. This partnership marks an important milestone for both companies and underscores their commitment to providing innovative and entertaining gaming experiences to their users.
