The only bad bet is the one you don't make.

1. I Want To Bet On Kentucky Derby

Best betting sites for the Kentucky Derby. Betting on horse racing has traditionally been an in-person activity. You know the deal: You walk up to a counter, hand over your betting slip and, hopefully, come back and collect your winnings soon after. 2021 Kentucky Derby Future Wager - Pool 3 Odds. The Kentucky Derby Pool 3 opened on Friday Feb. 12 and closed on Sunday Feb. For the third consecutive pool, the Field wager that consists of All Other Three Year Olds closed as the betting favroite, this time at a 3/1 price (Bet $100 to win $300). A total of $278,396 was wagered on Pool 3 with $52,558 placed on the Field bet (24).

One good tip for placing a bet during Kentucky Derby Week is to give yourself a budget and stick with it. Don't overextend yourself.

A betting odds calculator and converter multiplies the stake by the odds to determine the potential profit on your sports betting wagers. Simply enter your stakes and odds, and our tools will tell you how much profit you should expect to receive using American, fractional or decimal odds. Kentucky Derby betting 2021: Everything you need to know about placing a virtual bet Jason Frakes, Louisville Courier Journal 13 mins ago California legislators agree on $6.5B deal to reopen.

Also, don't be afraid to take a chance. So what if the horse that shares the same first name as your great aunt who lives in North Dakota has 65-1 odds? If you like it, put some money down. What if that horse wins?

Here are more tips on how to place an online bet on a horse in the 2021 Kentucky Derby, held this year on May 1 at Churchill Downs:

How do you place a bet at Churchill Downs?

If you're a beginning bettor, and are there in person, you probably want to avoid the self-service betting machines and mobile applications, instead opting for a mutuel window with an in-person teller.

Have your money in hand as you approach the teller, then state the race you're betting on, the amount of money you are betting, and the type of bet you are placing. Finally, state the horse's (or horses') program numbers. It should sound something like this, 'Churchill Downs, Race 11, $2 to win #4.'

Once you hand the teller your money, be sure to take the ticket and keep in a safe place. If your bet wins, you'll need the ticket to collect your winnings.

You also can wager through the racetrack's online wagering platform, twinspires.com. You're required to create a username and password, but signing up is free and doesn't take much time. You can transfer money from your bank account into your twinspires account and then place your bets.

A twinspires app is also available on smartphones.

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Kentucky Derby betting tips for 2021

When placing your bet, consider how a horse has performed in its recent races at the same distance on the same surface (in the case of the Kentucky Derby, 1 1/4 miles on dirt), percentage of starts won this year and notable margins of victory (winning by over three lengths is considered good).

Know that a horse's program number is not always the same as its post position, this occurring when there are coupled 'entries,' horses paired in betting because they have the same trainer or owners. (Rules vary on this from state to state.) Always be sure you know the correct program number of a horse before betting.

Check your tickets before you leave the betting window to make sure you have the horse, wager, race and track that you wanted. Track policies vary on changing tickets after a patron has left the window, but most will let you do so if it's not too close to post time or there's not a long line.

You can also ask a track employee (they wear red jackets at Churchill Downs) or a mutuel clerk for help if you have questions about wagering. Right after a race is over and before the payoffs are posted can be a good time to ask a mutuel clerk a question.

Many first-time bettors will go for a horse that has high odds. If you're going to do that, bet it across the board so that you get a larger payout if the horse wins but still get some money if it finishes second or third. Multi-horse bets such as exactas and trifectas are riskier — don't be that person who spends the whole day complaining that he or she liked the big-priced winner but that the 4-5 favorite ruined the bet by not coming in second.

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If 2019 taught us anything, don't toss a ticket in disgust before a race has been made official (which you'll see on the tote board and hear from the track announcer if watching the race live on NBC). There can be an inquiry by the stewards (who officiate the races) or an objection made by a jockey or trainer who believes their horse was fouled, which could change the official order of finish. Also, in the case of multi-horse wagers, there can be a consolation payoff if nobody has a perfect ticket.

This happened in the 2019 Derby when Maximum Security — first across the finish line — was disqualified for interference. If you had bet Country House to win, you might have thrown away your ticket. But when Maximum Security was disqualified, Country House was declared the winner and paid $132.40 on a $2 win ticket — the second-highest payout in the Kentucky Derby's 145-year history.

Donerail, the 1913 Derby winner, went into the race at 91-1 odds. The $2 win payoff of $184.90 remains a Kentucky Derby record.

What is a win-place-show bet?

The first is a 'win' wager. The horse must win the race in order for you to win the wager. Next, is a 'place' wager, which is betting on a horse to finish in the top 2. You win if your horse finishes first or second. Betting a horse to 'show' means picking a horse to finish in the top 3. You win the wager if your horse finishes first, second, or third.

What type of bet pays the best?

Because of the difficulty of a 'win' bet, it will yield the highest payoff of the three wagers. A 'show' wager will yield the lowest payoff but has the highest chance of winning. Payouts are calculated based on the horse's pre-race odds.

How do you bet an exacta?

An exacta bet is a step up from a win, place and show bet. To place an exacta bet, you pick two horses to finish in first and second place. The horses have to finish in that order for you to win the bet.

What is an exacta box?

A common way to bet is to 'box' your choices. The two horses you select would have to finish first and second, but unlike a regular exacta, they can finish in any order. This also means you can pick more than two horses. But that also increases the price. A $1 exacta box with three horses costs $6.

More: Don't want to sound like a Kentucky Derby newbie? How to sound like an insider

How do you bet a trifecta?

Trifecta betting is popular because of its difficulty as a small wager can have a big payout. To place a trifecta bet, you pick three horses that you think will finish first, second and third. The horses have to finish in that order for you to win the bet. The minimum bet is 50 cents.

What is a trifecta box?

A common way to bet a trifecta is to 'box' your choices. The three horses you select would have to finish first, second or third, but unlike a regular trifecta, they can finish in any order. This also means that you can pick more than three horses. But doing so could get pricey: A $1 trifecta box with three horses costs $6 while using six horses costs $120.

How do you calculate a trifecta payout?

Calculating the potential payout is difficult because of the large number of combinations to choose from. They can be very profitable, however. In 2009 when Mine That Bird (50-1) won the race and was followed Pioneer of the Nile (4-1) and Musket Man (20-1), a successful $1 trifecta bet returned $20,750.

Jason Frakes: 502-582-4046; jfrakes@courier-journal.com; Twitter: @kyhighs.

This article originally appeared on Louisville Courier Journal: Kentucky Derby betting 2021: Everything you need to know about placing a virtual bet

HRFla Staff Report

If you want to bet on this Friday’s Kentucky Oaks and/or this Saturday’s Kentucky Derby, there will be opportunities at Florida’s major horse tracks.

Those tracks are Gulfstream Park in Hallandale Beach, Tampa Bay Downs in Oldsmar, Hialeah Park in Hialeah and Pompano Park in Pompano Beach.

But unlike in previous years, when there was no coronavirus pandemic, there will not be a party-like atmosphere at tracks that are simulcasting the Oaks, Derby and the other races at Churchill Downs.

Those races are traditionally run on the first weekend in May. Track management teams always plan promotions and giveaways, especially on Kentucky Derby day.

For many sports fans it is day for going to the local track, betting on the live races, betting on the Derby and watching on a TV monitor or a big screen –while having a mint julep or two.

Meanwhile, if you have an Advance Deposit Wagering (ADW) account you can bet on the Kentucky Derby and almost any other U.S. thoroughbred race without going to a track.

Scheduled post for the Kentucky Oaks (Grade 1) at 1 1/8 miles for fillies is 5:45 p.m. Eastern on Friday.

Scheduled post for the Kentucky Oaks is 7:01 p.m. Eastern on Saturday.

Details are below on the Oaks/Derby simulcasting at the four Florida tracks.

At all four, simulcast patrons will be required to wear masks. Rules on social distancing and other COVID-19 restrictions also will apply.

Via a Google search, it is possible to find out which other pari-mutuels in Florida and other states will be simulcasting this weekend’s races from Churchill Downs–as well as Gulfstream, Saratoga and other major tracks.

Gulfstream Park

Gulfstream currently has live racing, but on most days it allows no live spectators because of COVID-19 restrictions.

This Friday and Saturday, it will allow up to 30 patrons in the Silks simulcasting area on its ground floor.

On Friday and Saturday, Gulfstream also will lease out suites on its third floor.

Reservations can be made by calling Gulfstream at (954) 454-7000. Other details are on its Web site https://www.gulfstreampark.com/https://www.gulfstreampark.com/

Gulfstream management also points out that Stronach Group, its parent company, owns and operates the 1ST/BET ADW.

Information, including how to sign up, may be found on this Web site:
https://1stbet.com/?_ga=2.235901505.111842515.1598995370-166985844.1598282951

Tampa Bay Downs

Tampa Bay will not have live racing until late November.

It has been open for simulcasting, with COVID-19 restrictions, since early July.

This Friday and Saturday, the Oldsmar track’s grandstand and part of its outdoor area will be open with tellers and betting machines.

“We are expecting good-sized crowds,” said Margo Flynn, Tampa Bay Downs’s vice president for marketing. “But for lack of a better word it won’t be a ‘party’ kind of atmosphere like in other years.”

The Churchill stakes races will be shown on TV monitors and on the big screen in the infield.

Additional details, including food and beverage information, may be obtained by calling Tampa Bay Downs at (813) 855-4401 or on its Web site http://www.tampabaydowns.com/

Hialeah Park

Hialeah will reopen its simulcast area this Friday, with a Thursday through Sunday schedule for September.

Churchill Downs and Gulfstream are among tracks on its regular schedule.

Details may be found on Hialeah’s Web site https://hialeahparkcasino.com/

Pompano Park

Pompano Park is open for simulcasting seven days a week.

Churchill and Gulfstream are part of the regular schedule.

I Want To Bet On Kentucky Derby

Additional information may be found on the Pompano Park Web site https://www.islepompanopark.com/