$179 million was bet on the 2022 Kentucky Derby.
$501k was bet on Rich Strike to win the Kentucky Derby.
LOUISVILLE, Ky. – The 2022 Kentucky Derby has come to an end and it was a historic one being that not only the biggest underdog, Rich Strike, won the race, but also because it was the largest betting handle in Kentucky Derby history.
It was reported that legal online betting sites took in a $179 million betting handle.
It marks a 17% increase over the $148.6 million handle that came at the 2021 Kentucky Derby. It also broke the previous betting handle record of $164.7 million by 8% which was set at the 2019 Derby.
Something eye-opening about this though is that of the record-high $179 million handle, only $501,135 was bet on Rich Strike’s Kentucky Derby odds, just 1% of the total bets.
At +8200 odds prior to the race, an estimated $41 million was paid out to those that took the ultimate risk. That left sportsbooks with an estimated $138 million that they collected.
Rich Strike wins the Kentucky Derby!! pic.twitter.com/K5HVvxt0G7
— Kentucky Derby (@KentuckyDerby) May 7, 2022
Betting History Behind The Underdog
With Rich Strike’s win, this marks the second-largest underdog to win the Kentucky Derby in the history of the race and is also the second horse in history to win from starting gate 20. With the longest odds to win the Kentucky Derby at 91/1, Donerail came out victorious way back in 1913.
Underdogs in the Kentucky Derby have actually paid out more often than not in the modern era. Since 2000, three other horses aside from Rich Strike have won the derby with 50/1 odds or more.
In 2019, Country House won at 65/1 odds, and in 2005 and 2009, Giacomo and Mine That Bird each won with 50/1 odds.
News tags: horses | Kentucky Derby | Kentucky Derby Betting | Rich Strike
Samuel has been writing professionally for 4 years. He comes from a sports writing background where he enjoys writing mostly about basketball and football both professional and collegiate. He is a recent graduate of Florida State University where he majored in Editing, Writing and Media with a minor in Communications. During his free time, you can find him watching or playing sports as well as playing videogames and listening to music.