Fancy setting down a bet on the Kentucky Derby, airing live on NBC Saturday, but do not wish to appear to be a novice when you place your wager?
For all you inexperienced bettors on the market, here’s a fast guide to betting on the Kentucky Derby that’ll have you sounding like a serious handicapper by the time Justify, Vino Rosso and Audible approach the starting gate.
DECODING THE LINGO
Racing newcomers may not know what the odds actually imply. Whenever there are two amounts (e.g., 16:1 for Vino Rosso at time of writing based on VegasInsider.com) displayed on a tote board at a racetrack or on a list of bet options, the first number (16) denotes the minimum amount of profit the wager will cover. The second number (1) will be the amount you want to wager to win the first amount.Once the closing finishing places of a race are recorded, the monitor will post the costs of this winning wagers. In the above example, the horse will probably cover $16. The course will then include the $16 profit along with the $1 bet with each other to derive the payout: $16 + $1 = $17. Lone Sailor at 50:1 would therefore pay $51 on a $1 bet.
When a horse is quoted with only a single number, it is suggested that the lost second number is a 1. In other words, a 7 on the tote board signifies 7:1. So if you made a $2 bet, a bet on a horse using 7:1 chances would cover $16. That’s because 7:1 is exactly the exact same as 14:2, therefore $14 + $2 = $16. (In betting on horse races, payouts are generally based on a $2 bet.)
Now that the odds makes sense, it’s time to determine the sort of bet you would like to create. Here are some of the most popular bets:
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Win Your horse must finish first to collect.
Set Your horse must finish first or second to accumulate.
Prove Your horse must finish first, second or third to collect.

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