Kentucky Derby gambling rises 11% year over year
The 150th running of the Kentucky Derby at Churchill Downs on May 04, 2024, saw a significant increase in gambling activity, with wagering from all sources on the Kentucky Derby Day program rising to $320.5 million, an 11% increase from the previous year. All-sources wagering on the Kentucky Derby race itself also saw a substantial increase to $210.7 million, up 11.7% from 2023.
According to analyst Ricardo Chinchilla from Deutsche Bank, the strong performance at the Kentucky Derby could lead to a better-than-expected quarter for Churchill Downs. The high interest in the event, which coincided with other significant sporting events like the Miami Grand Prix and Real Madrid winning La Liga, contributed to the surge in gambling activity.
The television audience for the Kentucky Derby was reported to be the largest since 1989, as per NBC Sports. This positive outcome has led to a 1.5% increase in shares of Churchill Downs on Monday.
Overall, the 150th Kentucky Derby proved to be a successful event, drawing in a large audience and generating substantial gambling revenue, showcasing the enduring popularity of this historic horse racing event.
