Sports

Kentucky Derby sets betting handle record


The most bet Kentucky Derby ever was won by the biggest long shot in the field.

According to Churchill Downs, a record $179.0 million was waged in the pari-mutuel pool during Saturday’s Kentucky Derby, up 17% from last year and 8% larger than the previous record set. set in 2019. Only $501,135 of the total bet for the winning group went to Rich Strike, the lowest of any horse in the field, according to figures released by the track.

Rich Strike, who won 80-1, edged past favorites Epicenter and Zandon in the final seconds to get past the second biggest sadness in the race’s 148-year history into the race. Saturday at Churchill Downs.

The Rich Strike is an even bigger long shot in Nevada, where the sportsbooks have offered the odds for the Kentucky Derby winner since the start of the year. Rich Strike can be found as long as 300-1 in March and 200-1 on Saturday at the Las Vegas sportsbook Circa. The long odds attracted a flood of late bets on Rich Strike, turning what was a big win for most Nevada bookmakers into a small loser for Circa.

“People love the longest strokes on the chessboard, so we placed a lot of small bets [on Rich Strike]$25, $50, here and there,” Paul Zilm, a risk supervisor who oversees Circa’s horse racing services, told ESPN. It made it a small loss for us. “

Rich Strike wasn’t even at the Derby until Friday after a late scratch. Circa added the pony back to the pool after a draw on Friday morning. Zilm estimates that he has placed 75-100 bets on Rich Strike, many placing in the last 15 minutes before the race in the 125-1 to 150-1 range, almost double the odds of the track.

“That adds up quickly, but if I did it all over again, I probably wouldn’t change much,” Zilm said. “The long-distance bettors got their wish.”

Jim “Mattress Mack” McIngvale, a Houston furniture store owner known for his big bets, wasn’t so lucky. McIngvale told the Las Vegas Review-Journal that he lost $2.6 million betting on Derby, $1.5 million of it betting straight on the favorite Epicenter to win. McIngvale used his big bet on Derby to mitigate a promotion at his furniture store, Gallery Furniture, that offers a cashback on purchases of at least $3,000 if a favorite won the Kentucky Derby.

While Circa Sports was short-lived, other Las Vegas sportsbooks did well to the disappointment of Rich Strike. The SuperBook at Westgate Las Vegas says it takes “possibly 10” bets on Rich Strike to win a Derby in its futures pool.

“[We] Ed Salmons, SuperBook’s vice president of risk management, told ESPN, has held almost the entire team.



Source link

newsofmax

News of max: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button
Immediate Matrix Immediate Maximum