Wagering

Wagering Experience

Our Commitment to the Wagering Experience

IntroductionWAGERING TOOLSUnderstanding WageringUNDERSTANDING ODDSWagering MenuTERMINOLOGY FAQS & RESOURCES

Wagering is an essential part of how Thoroughbred racing operates. At Keeneland, we are committed to a transparent, responsible wagering environment that helps fund purses and delivers a high-quality racing product.

Wagering Tools & Data

Dashboard Icon

Projected Odds Dashboard
Live projected odds provided by DRF Formulator and Horse Racing Nation.

Coming for the 2026 Spring Meet!

Calendar icon

Complimentary Past Performances
Digital programs available online again powered by the Kentucky Thoroughbred Development Fund (KTDF).

Past Performances
Checklist icon

Handicapper’s Picks
See who the Keeneland experts select each race day through Expert Picks and Handicappers Consensus.

Expert Picks
Handicapper’s Consensus
Stopwatch icon

Workout Videos & Clocker’s Comments
Available year-round on Keeneland.com/workouts powered by the KTDF.

Workout Videos
Clocker's Comments
two men viewing a racing program

Understanding Pari-Mutuel Wagering

Pari-mutuel wagering is the betting system used in horse racing throughout the U.S. Instead of betting against the house, bettors wager against each other. All bets of a specific type are combined into a shared pool, and winning payouts are determined by how that pool is distributed.

Because payouts are based on how much money is wagered on each outcome, the market – meaning the collective opinion of the bettors – determines the odds and potential returns in real time. As money enters the pool, odds adjust until betting closes.

Wagering Fuels Racing.
Racing Fuels Wagering.

Wagering is an essential part of how Thoroughbred racing operates.

At Keeneland, we are committed to a transparent, responsible wagering environment that helps fund purses and deliver a high-quality racing product.

Infographic showing relationship between quality racing and strong betting
pie chart showing wagering sources at Keeneland

Understanding Keeneland Wagering

The following is an overview of the makeup of wagering at Keeneland over the last two years:

8%

On Track

25%

Brick & Mortar

44%

ADW

23%

CAW

Understanding Odds

wagering money icon

What are odds?

Odds reflect how much money has been wagered on specific outcomes and indicate the potential return on a winning bet. Lower odds generally mean more money has been placed on that horse.

changing odds icon

Why do odds change?

When more money is wagered on a horse or outcome, the odds decrease because the pool would be split among more winners if that horse wins. When less money is wagered, the odds increase.

refresh timer icon

How often do odds change?

At Keeneland, odds refresh every 5 seconds within the final two minutes before post time to provide the most current view of the betting market. Odds become final when betting closes at the start of the race. Betting is locked at the break of the gate by the stewards.

Wagering Menu & Takeout

WAger TypeMinimumTakeout
Win$116%
Place$116%
Show
10% takeout through On-Track Show Bet Bonus at Keeneland or Red Mile		$110% (On-Track)
16% (Off-Track)
Exacta
Offered on all races		$119.5%
Trifecta
Races with at least five betting interests		50¢22%
Superfecta
Races with at least six betting interests		50¢22%
Toyota Super High 5
Offered on the last race of the day with at least seven betting interests		$122%
WAger TypeMinimumTakeout
Daily Double
Rolling doubles throughout the card		$115%
Pick 3
Begins on Race 1 and continues throughout the day		$122%
Turf Pick 3
Covers the final three turf races of the day		$315%
Late Pick 3
Covers the final three races		$315%
Pick 4
First begins on Race 2; final Pick 4 covers final four races		50¢22%
Pick 5
Two offered daily: first five races and final five races		50¢15%
Pick 6
Offered on the last six races of the day		$122%
View Post Time Schedule

Terminology

  • Pari-Mutuel Wagering - A pool-based betting system where bettors wager against each other.
  • Takeout - The set percentage removed from each wagering pool to conduct and administer the wager. This supports purses and live racing operations.
  • Odds - The return on a winning bet, determined by how much money is wagered on each outcome within a pool.
  • ADW - Advanced Deposit Wagering, a licensed online wagering platform.
  • CAW - Stands for Computer Assisted Wagering. CAW teams are professional bettors who use advanced technology and data analysis to place a large volume of bets.
  • Host Fees - Fees paid to the track providing the racing signal when wagers are accepted by other tracks or wagering platforms.
  • Pool - The total amount of money wagered on a specific bet type.
  • Will-Pays - Projected payouts shown before the race for multi-race wagers.
  • Projected Odds - Sometimes called predictive odds or expected final odds, projected odds are an estimate of what a horse’s final odds are likely to be at post time, based on the current wagering patterns and pool data.
wagering ticket in front of a racing program
close up view of man holding a racing program

Frequently Asked Questions

Odds become final when betting closes at the start of the race. Betting is locked at the break of the gate by the stewards.

This is a result of timing, rather than access. Large wagers – from any source – can impact the betting pool. Because many wagers are submitted close to post time, odds can shift in the final moments before the race begins. Depending on where the odds refresh cycle hits, and the refresh cycle of the outlet displaying the race, the odds may appear to change once the race begins.

CAW teams wager into the same pari-mutuel pools as all other bettors. Their bets are combined into the pool alongside everyone else’s and are subject to the same pool-based payout structure. Like all participants in pari-mutuel wagering, their wagers contribute to the odds and ultimately help determine payouts.

Keeneland does not restrict participation by wager type or participant. Pricing and pool structures are designed to support overall market liquidity and are applied in a manner intended to maintain a balanced and competitive wagering ecosystem.

No. CAWs are paid based on the same pari-mutuel payouts as everyone else. Racetracks send out data feeds which are then populated on wagering apps (ADWs) and simulcast feeds. CAWs receive the same information as the betting public but can process it quickly because of the sophisticated software in which they have independently invested.

No.

Yes. CAWs must follow the same wagering rules and regulations as all bettors and are subject to oversight by racing commissions and track operators.

It ensures the track does not act as a bookmaker, allows payouts to reflect the collective opinion of bettors, and helps fund purses and the sport’s ecosystem. It has been the foundation of horse racing wagering for over a century.

Wagering Updates

Keeneland is committed to maintaining a transparent, healthy and competitive wagering environment to our betting community. All wagering activity is subject to oversight by racing officials and regulatory bodies. We continually evaluate policies to support the integrity and sustainability of the wagering ecosystem.

Keeneland Race 3 - April 11

keeneland race 3 - April 11

Keeneland race 3 has been ruled a no contest by the stewards due to jockey Santo Sanjur being unseated by #6 Ransomware at the start.

#6 Ransomware was transported back to the barn as a courtesy ride for precautionary reasons. He was evaluated and has minor abrasions. Jockey Santo Sanjur currently being evaluated by UK Healthcare.

Regarding the No Contest in Race 3:

  • All wagers that began in Race 3 and all wagers inside the race are refunded
  • For the Pick 3s that began in Race 1 & 2, the double that began in Race 2, the Pick 4 that began in Race 2, and the Pick 5 that began in Race 1, the no contest race becomes an "All" for wagering purposes

Responsible Wagering

Responsible Wagering

Keeneland is committed to promoting responsible wagering by our patrons.

Pursuant to 810 KAR 2:100, the KHRGC has established a confidential Voluntary Self-Exclusion List.

If you are seeking help and wish to self-exclude, please request to speak with Jim Goodman, the Director of Wagering Development, for additional information. Alternatively, you may call 859-288-4261 or email [email protected].

All personal information provided to the List will be kept confidential and shall not be disclosed except as necessary in accordance with KAR Titles 809 and 810 or as required by law.

Please be advised that the consequences of enrollment on the List include being prohibited from entering or wagering at Keeneland.

2026 Derby Day at Keeneland

Derby Day at keeneland

Derby Day at Keeneland

Saturday, May 2

Celebrate the Kentucky Derby at Keeneland! Derby Day is a community celebration in the Bluegrass, and Keeneland will mark the 2026 Run for the Roses with enhanced programming campus-wide including live music, food trucks, family activities and more for guests to enjoy. 

Ticket Options

General Admission

Walkaround access to the Keeneland grounds. Bring your own seating or enjoy the numerous public seating areas including grandstand seats.

Ticket Price: $10

Buy Tickets

equestrian room

Equestrian Room

Located on the first floor of the grandstand, guests will enjoy a la carte lunch and cocktail service from their designated table for the day.

Ticket Price: $40

Buy Tickets

1936 Room

1936 Room

An all-inclusive, social space located on the north side of the Paddock building, featuring lounge seating and high-top tables offering reception-style dining and a rotating menu of handheld bites. Room opens at 2 p.m.

Ticket Price: $150

Buy Tickets
derby day

Tailgating on the Hill

Create your own Derby party on The Hill! With access to live racing on a jumbo TV, wagering, live music, food trucks and more, The Hill is the perfect way to celebrate Derby. Or, take your tailgate to the next level with an enhanced tailgating package with RevelXP for groups from 10 to 750.

learn more
Premium Tailgating

Parking & Entry

All public parking for Derby Day at Keeneland is free and is first-come, first-served.

Enter Gate 1
Accessible Parking (complimentary shuttles to the entrance), The Hill, Ride Share (Uber/Lyft/Taxi/Pick Up & Drop Off)

Enter Gate 2
General Admission, 1936 Room & Equestrian Room ticket holders, Gold Lot Reserved

view entry policies

Derby Day Activities

Live Music on the Michelob Ultra Stage

Located in the Paddock

Hat Contest Presented by the Keeneland Shop

Visit us at Milliners Corner near the Walking Ring for details and to enter.

The Keeneland Shop

Open 9 a.m. - 30 minutes after the Derby
Shop for the perfect Derby hat, racing souvenirs and more!

Maker’s Mark Experience Zone

Visit the Maker’s Mark Experience Zone located trackside for a photo opp, giveaways and more.

Wagering Central

Need a few tips? Visit our BETologists at Wagering Central, trackside under the grandstand, for pointers on the Kentucky Derby card.

Children’s Activities

Enjoy face painting, pony rides, games, crafts and more for children on Derby Day. Located in Keeneland’s first floor clubhouse from 2 - 6 p.m.

How to Bet the Derby

1. Bet Online with Keeneland Select

New accounts that wager $300 in the first 30 days receive $100 back into their account. Sign up now at keenelandselect.com.

2. Red Mile

Simulcast wagering is available Friday and Saturday at Red Mile, beginning at 10 a.m.

Keeneland will not be open to cash tickets after Derby Day. Any uncashed tickets from Derby Day can be cashed at Red Mile.

3. On-Site Betting

Betting windows will be open at Keeneland on Saturday beginning at 10 a.m. Windows will remain open until the last race is official.

Frequently Asked Questions

What time do gates open?

10 a.m. ET on May 2

Is parking free?

Yes, all public parking for Derby Day at Keeneland is free and is first-come, first-served. Free accessible parking is located in semipaved rows 16-17. Complimentary shuttles are available for accessible parking only.

Enter Gate 1
Accessible Parking (complimentary shuttles to the entrance), The Hill, Ride Share (Uber/Lyft/Taxi/Pick Up & Drop Off)

Enter Gate 2
General Admission, Equestrian Room & 1936 Room ticketholders, Gold Lot Reserved

May I bring food or coolers?

Concessions and bars will be open throughout the Grandstand. Therefore, fans will not be permitted to bring food or coolers inside the admission gates. View admission protocols.

May I bring chairs?

Guests may bring chairs for use on the North Terrace and Track Apron. Keeneland will have limited patio tables and chairs in the Saddling Paddock for fans to use on a first-come, first-served basis. Grandstand seating is also open for general admission patrons. View admission protocols.

Will drive-thru betting be available?

Drive-thru betting will not be available. Simulcast wagering is available Friday and Saturday at Red Mile, and at Keeneland betting windows on Saturday beginning at 10 a.m.

Thank You to Our Partners!

Betting Details

Betting Details

Browse our information below to find details on where to bet and cash a ticket, Keeneland's wagering menu, payout rules and more.

On-Track Show Bet Bonus

Bet to show on track and earn more!

Show wagers placed at Keeneland or at Keeneland’s simulcast facility at Red Mile will be subject to a 10% takeout versus a 16% takeout off-track, meaning patrons will receive a higher payout for a winning show wager. 

By lowering the takeout rate from 16% to 10%, on-track patrons will see an average increase of about 7% in show payouts. 

For example: 
A $2.80 show payoff off-track will return $3.00 on-track 
A $4.20 payoff off-track will return $4.50 on-track 
An $8.40 payoff off-track will return $9.00 on-track 

This change provides even greater value for our on-track bettors. 

Entries

View

Results

View

Scratches & Changes

View

Track Conditions

View

Download Digital Program

View

Race Replays

View

Keeneland Turf Pick 3

Offered on the day’s FINAL 3 TURF RACES

$3 MINIMUM Appears as separate wager on tote machines and ADWs as “Keeneland Turf Pick 3”

TRADITIONAL PICK 3 RULES APPLY

Change in race surface for the second and third legs not made public prior to the start of the first race results in an All Win for runners that compete in the changed leg(s), and consolations for runners who scratch in the changed leg(s).

Wagering Menu & Takeout

Keeneland offers the following bets:

  • $1 Exactas (all races)
  • 50¢ Trifecta (races with at least five betting interests)
  • 10¢ Superfecta (races with at least six betting interests)
  • 50¢ Pick Three (the day's first Pick Three begins on the first race and continues thru the day; the final Pick Three encompasses the final three races)
  • $1 Rolling Doubles continuing throughout the card
  • 50¢ Pick Four (the first one begins on the day's second race; the second and final one covers the day's final four races)
  • Toyota $1 Super High Five (at least seven betting interests). Offered on last race of the day with 7 betting interests.
  • 50¢ Pick Five on 1st five races and last five races
  • $1 Pick Six on the last six races of the day
  • $1 Win, Place, Show
  • $3 Turf Pick Three - on last three turf races of the day

All other wagers, unless noted, have a $2 minimum

Keeneland's takeout is as follows:

  • Win, Place, Show – 16%
  • Exacta – 19.5%
  • Daily Double - 15%
  • Pick Five – 15%
  • Turf Pick Three – 15%
  • All other exotics – 22%

Wagering Menu & Takeout

WAger TypeMinimumTakeout
Win$116%
Place$116%
Show
10% takeout through On-Track Show Bet Bonus at Keeneland or Red Mile		$110% (On-Track)
16% (Off-Track)
Exacta
Offered on all races		$119.5%
Trifecta
Races with at least five betting interests		50¢22%
Superfecta
Races with at least six betting interests		50¢22%
Toyota Super High 5
Offered on the last race of the day with at least seven betting interests		$122%
WAger TypeMinimumTakeout
Daily Double
Rolling doubles throughout the card		$115%
Pick 3
Begins on Race 1 and continues throughout the day		$122%
Turf Pick 3
Covers the final three turf races of the day		$315%
Late Pick 3
Covers the final three races		$315%
Pick 4
First begins on Race 2; final Pick 4 covers final four races		50¢22%
Pick 5
Two offered daily: first five races and final five races		50¢15%
Pick 6
Offered on the last six races of the day		$122%
learn more
learn more
learn more
learn more

Where to Bet & Online Wagering

Simulcasting

Red Mile – Wednesday thru Sunday year-round.

Keeneland – Open only during periods of live racing

Bet from your Phone when You're at the Track

When you come to the races, Keeneland makes it easy and convenient for you to bet using your smartphone or tablet.

No Waiting

No Window

No Leaving Your Seat

It’s Free

Visit Wagering Central, located under the grandstand near the finish line, and ask a BETologist to help you sign up for a Keeneland Select account, help you fund it and even make your first wager. You can also pick up some great handicapping tips while you’re there—for novices and expert bettors alike

Bet with a Clerk

State the Name of the track (i.e. Keeneland, Churchill Downs, Oaklawn, etc.)

State the Race Number

State the Amount of the bet

State the Type of bet

State the Number of the horse

Example: "Keeneland, 2nd Race, $7 to Win on Number 6."

Betting at a Self-Service Terminal

When placing a bet with a self-service machine, we suggest following these instructions.

Purchase a credit voucher from the designated machines or use a winning ticket.

Go to any self-service terminal.

Insert voucher or winning ticket and make your selections as prompted on the screen.

The machine deducts the cost of your bet from your credit voucher or winning ticket. If you win, cash in your ticket at a mutuel window or use it in the self-service machine.

WAGERING

The Basics

Learn how to make your picks and place your bets on your way to cashing a winning ticket.

learn more
WAGERING

Handicapping Tips & Tools

Everything you need to handicap world-class racing at Keeneland.

learn more

Handicapping Tips & Tools

Handicapping tips & Tools

Handicapping Tips and Tools

Keeneland offers fans a number of tools to handicap a day at the races. During live racing, browse picks from some of our resident experts, explore Keeneland racing statistics and more.

Complimentary Digital PPs

Keeneland is pleased to offer our fans a complimentary digital copy of the program during the Spring Meet, April 3-24.

download

Bet From Anywhere with Keeneland Select

Keeneland Select gives you access to racing from tracks around the world. Wager online, live stream racing, earn lucrative rewards, and support Keeneland’s mission to invest in the sport of Thoroughbred racing.

bet now

Winner's Book

View

Night School

VIEW

Fall Meet Leaders

View

Facts & Figures

View

Workouts & Clocker's Comments

VIEW

The Race Day App

The Keeneland Race Day app is your guide to handicapping and enjoying a day of Keeneland Racing - all at your fingertips!

Download on the App Store or Google Play.

Learn More

Current Meet Stats

Keeneland publishes current meet stats for jockeys, trainers and post position each day on its website. Be sure to check out these stats when you’re handicapping the day’s card. You might be able to glean some useful handicapping information, such as which jockeys are finding the most success at Keeneland, the average win payoff for a trainer, and the win percentage for various post positions.

jockey/trainer stats
post position stats

Keeneland Handicapping Database

This free tool is designed especially for horseplayers searching for detailed information. Updated daily, the database offers detailed information on winners of every Keeneland race during the current race meet including weather, position at key junctures of the race, last start information and much more. To view the complete database since October 2006, click on the Download CSV option at the top of the database.

view complete database

The Basics

Everything you need to handicap world-class racing at Keeneland.

learn more

The Details

Information on where to bet at Keeneland, plus our wagering menu and more.

learn more

Subscribe to %1