When you are new to betting on the 2014 Kentucky Derby, it can be difficult to understand which favorites and odds you should be paying attention to. According to DerbyCraze.com, the Kentucky Derby betting favorite is California Chrome at 7/2 odds at Wynn Las Vegas Racebook. However, it can be confusing to new bettors about how these favorites and odds are picked. By definition, a favorite horse has the most money wagered against it. The odds are the chances a horse has of winning. In order to get a better idea of who to listen to, and which information you should be paying attention to, check out these five basic tips on Kentucky Derby favorites and odds.
Pay attention to the new Kentucky Derby points system
When you are going through 2014 Kentucky Derby news, you will notice that there have been important changes over the past couple of years. In 2012, the Kentucky Derby instigated a new system called the “Road to the Kentucky Derby” for picking horses that will be in the race. The idea that Churchill Downs had was that this would help new bettors understand which horses were most likely to win. Regardless, you should not use one source to make all of your decisions about the best favorites and odds for the Kentucky Derby.
Never choose one favorites source
When you are getting ready to place your bets for the Kentucky Derby, you will see that Churchill Downs has an official oddsmaker. Naturally, since Mike Battaglia works for Churchill Downs, he appears to have the experience that you need for picking your own favorites from his odds list. In the week before the race, he even selects a few of the favorites that he thinks will win the race. While it may be tempting to solely use ideas of the official oddsmaker at the Kentucky Derby to select your favorites for the race, this is often a mistake.
The Kentucky Derby betting odds can always change
Even if you do your homework, you may still be forced to make a last minute decision about which horses to bet on for the 2014 Kentucky Derby. Primarily, there are sometimes horses withdrawn right before the race. This can drastically change odds, and you will need to rethink your decision. For this reason, many bettors will pick a top 10 with the intention of making a decision on their top five during the afternoon before the race is run at 6:24 EST. Horses may also shift as favorites because the amount of money all of the bettors place on them can vary drastically in the hours before the race because more than one opinion is available.
Use the advice of tipsters and picks experts
Odds and favorites aside, if you want a good idea of which horse to pick for the Kentucky Derby, there are plenty of professional and amateur experts out there. Naturally, it helps to know who picked the right horse last year. Unfortunately, the 2013 Kentucky Derby was the first year for the new points system. This caused a lot of picks experts to be thrown off their normal evaluations of selecting the best horses. However, if you check their track record, you will see that in the past they have picked the right horse often.
In addition to the Kentucky Derby, there are 10 additional races held on the same day. For this reason, be sure to bulk up your bets by selecting a few horses from the suggestions of pick experts. A good place to find pick experts is on Twitter. You can look through their past tweets to find which horse they predicted in the past.
Final pieces of advice on your first Kentucky Derby bet
If you want to cover your bases, experts always have same advice for new bettors. No matter which favorites or odds you choose to pay attention to, this information will always ring true. In particular, beginners should never bet with more money than they have to spend, remember to place your bets online the day of the race before 6:00 PM, always bet on the longshot, consider a cheap trifecta ticket, and never forget to do your homework about betting favorites and odds at least a week in advance.