Kentucky Derby Odds: Tiz the Law Gets Fave Tag

The 146th annual Kentucky Derby is next on the docket for the elusive Triple Crown in horse racing and after a dominant win at the Belmont Stakes, Tiz the Law is the favorite to take the Run for the Roses.

Tiz the Law sits at +150 to take the second jewel of the Triple Crown at the best horse racing betting sites and with those Kentucky Derby odds, it’s implied he has a 40 percent chance of winning the race.

The Derby, which is usually held on the first weekend of May, was postponed to September 5 so there will be a considerable gap between the first Triple Crown race and the second compared to what bettors are accustomed to.

If you’ve never bet on horse racing before and are unsure of which sportsbook to use, don’t sweat it. Odds Shark has put together a handy Kentucky Derby Betting Guide that even seasoned bettors may want to review to ensure you’re picking the best betting site for you.

There are currently over 90 horses available to bet on to win the 146th Kentucky Derby since the delay opens up the potential field. For now, here are the top 30 horses on the oddsboard at Bovada:

Odds as of June 22 at Bovada

When and Where To Watch the Kentucky Derby

The news of the 146th Kentucky Derby being postponed until September certainly put a fly in everyone’s mint julep. For bettors who had already placed Derby future wagers, they’ll likely still be eligible with your sportsbook unless you bet on Nadal (injury) or Charlatan (performance enhancers), who both were removed from the Belmont Stakes.

Here are the full details for the broadcast schedule and where to watch the Run for the Roses:

Why Tiz the Law is the Favorite

After Barclay Tagg’s horse Tiz the Law smoked the competition at the Belmont Stakes, it was natural for oddsmakers to place him at the top of the list to win the Kentucky Derby. Tiz the Law (+150) became the first New York-bred horse to win the Belmont since 1882 and had a comfortable winning margin at 3 3/4 lengths.

Another reason Tiz the Law has a great chance to take the Kentucky Derby is the race length. In a usual race year, the Belmont is the longest track of the three jewels of the Triple Crown but due to the COVID-19 pandemic, they reduced the length from 1 1/2 miles to 1 1/8 miles. Churchill Downs is 1 1/4 miles, which is closer to Belmont length.

The extra rest will likely benefit some horses but perhaps not others. While Tiz the Law deserves to be the favorite, for now, Tagg has said he plans to run the colt in the Travers Stakes in Saratoga on August 8, which could provide oddsmakers a good indicator of how the three-year-old is faring with the layoff.

What Are The Triple Crown Winner Odds?

Each year after the Kentucky Derby (or for 2020, the Belmont Stakes), the conversation immediately turns to whether the winner of the first race can pull off the Triple Crown by winning the Kentucky Derby, Preakness Stakes and Belmont Stakes in the same calendar year.

Oddsmakers with Bovada have listed 2020 Belmont Stakes winner Tiz the Law at +275 to win the remaining two jewels of the Triple Crown, which are the Kentucky Derby in September and the Preakness Stakes in October.

Those odds imply Tiz the Law has a 26.7 percent chance of achieving this illustrious feat, something only 13 horses have done in Triple Crown history, most recently Justify in 2018 and American Pharoah in 2015.

Odds as of June 22 at Bovada

Historical Winners at Churchill Downs

When betting on horse racing at the Kentucky Derby, if you assumed that the favorites have been the ones to gallop to victory recently, you’d be spot on with your assessment. The betting favorite has won three of the last five annual races at Churchill Downs and five of the last seven.

Here at Odds Shark, we believe in order to bet on the future, you have to know your past. That’s why we’ve compiled the closing betting odds for every winning horse at the Kentucky Derby since 2009 so bettors can see for themselves that despite recent results, betting on the 5/2 fave (+250) is not always the best way to go.

Just look to 2019 when you could have bet on Country Lane as a 65-1 long shot that won on a technicality over the favorite, Maximum Security (BAD BEAT ALERT!).

Take a look below to see the winners, lane, runtime and the closing odds over the last 10 years:

Understanding Kentucky Derby Odds

When you check out the best horse racing sportsbooks, futures betting props like “Kentucky Derby Odds” will be listed and you’ll see odds that look something like this:

Tiz the Law +150

Honor A P +500

Authentic +800

To bet on these odds, you would be making a futures bet. If this were a moneyline bet, you’d be able to see which horse is the clear favorite because it would have a minus sign beside its odds (-). For these futures, the horse with the lowest odds is favored to win the Kentucky Derby and the rest are underdogs.

If you think Authentic will win the Kentucky Derby and you bet $100 on the stallion, you’d get a payout of $900 – you get your $100 back along with your winnings of $800.

Our Odds Calculator will show you how much you’d win based on the odds and amount bet.