How should I bet on Kentucky Derby? FanDuel promo code for No Sweat win bet + exactas, trifectas & superfectas

The Kentucky Derby is one of those marquee events that draws in casual fans of a sport. For many, the Derby may be the only horse race they watch all year, and our FanDuel Racing promo code is perfect for this type of fan.

Betting is a big part of horse racing. As Richard Dreyfuss' character proclaimed to his wife (Teri Garr) in the movie 1989 classic "Let it Ride": "There is no racing without betting." Surely, having a few dollars on the race and giving yourself a chance to win some money adds to the excitement of the Fastest Two Minutes in Sports.

For the uninitiated, though, figuring out how to bet on the Kentucky Derby can be confusing.

We’re here to help by explaining below some of the ways to bet the Derby, and our FanDuel Racing promo code link offers new customers a fantastic deal to get them started. Depending on the state you’re in, FanDuel is offering either a $500 No Sweat Win Bet or a $20 No Sweat First Bet*.

A win bet, especially when it comes as a bonus bet from a top betting app like FanDuel, is a great way to wager on the Derby. With a win bet, you are simply betting on one horse to win the race.

Odds to win 2024 Kentucky Derby: How to use your bonus bet with our FanDuel Racing promo code 

Betting to win is the simplest form of horse race wagering. Just pick any horse listed in the chart below, click on his odds, and head to FanDuel to claim your bonus bet. Should you lose that first bet, your FanDuel account will be reimbursed the full amount of the wager, up to $500.

Here are odds to win the 2024 Run for the Roses. 

No. 4 Catching Freedom is listed at 8-to-1 odds (+800 in sports betting parlance). This means that a winning bet pays $8 in profit for every $1 wagered.

Keep in mind, though, that the parimutuel-style wagering that occurs in horse racing is different than sports betting, as bets are paid off at closing odds, not at the odds at the time the wager is placed. It’s possible, for example, for Catching Freedom to go off at 6-1 or 10-1.

Bet here: Click to claim your bonus win bet for up to $500 at FanDuel Racing 

Bet win, place or show on Kentucky Derby

“Win, place or show” is common horse racing terminology. If you bet to win, the horse must finish first. A place bet pays out if the horse finishes first or second, and a show bet pays if the horse finishes in third place or better.

A win bet pays more than place, of course, and a bet to place pays more than to show.

Related: Kentucky Derby, horse-by-horse | Who will win the Derby?

Exactas and exacta boxes

With an exacta bet in horse racing, you are trying to pick the first two finishers, in the correct order.

With an exacta box, you are betting the same group of horses to finish first and second in any order.

As an example for this year's Derby, with an exacta bet on No. 4 Catching Freedom and No. 17 Fierceness, the horses must finish in that order for a bet to pay. If you “box” these two horses in an exacta, though, they may finish first and second in either order.

A $2 exacta box on 4-17 would cost $4, because you are actually making two bets – one on a 4-17 exacta, one on a 17-4 exacta.

You may also box more than two horses. While that will cost more money, you are giving yourself a better chance to win because you are betting more combinations. A three-horse exacta for $2 costs $12, since there are six first-and-second combinations that could be winners.

A $2 exacta on last year's winning Kentucky Derby combination of No. 8 Mage and No. 3 Two Phil's paid off at $330.44. Not too shabby.

Trifecta and trifecta boxes

With a trifecta, you are betting on the first three horses to finish in an exact order. Just like an exacta, you may box a trifecta. With a four-horse trifecta box, there are 24 potential winning combinations. 

Try a $1 trifecta box with four horses, for a $24 investment (24 combinations). This way, if any of the four horses you pick finish 1-2-3, you win.

Trifectas are hard to hit, but a $1 bet can pay off easily into the triple figures and sometimes even higher!

Last year's Derby trifecta? If you had the 8-13-14 (either straight or in a box), you cashed a $982.36 ticket.

Superfectas and superfecta boxes

If you think picking the first two or first three horses, in order, across the finish line is tough, the superfecta is even harder. With a superfecta, you are trying to pick the first four horses.

These bets have a low probability to hit and therefore pay off handsomely.

How about a five-horse superfecta box for $1? Since that gives you 120 possible winning outcomes, the ticket will cost $120. 

Last year's 8-3-14-11 super paid a fat $15,643.65! 

Does the FanDuel promo code work in my state?

FanDuel Racing is offering great deals for new customers in states where the app and website are open for business.

In Arkansas, California, Delaware, Idaho, Florida, Minnesota, Montana, New Hampshire, New Mexico, North Dakota, Oregon, Rhode Island, South Dakota and Washington, FanDuel Racing offers the $500 No Sweat Win Bet on the Kentucky Derby. 

In Arizona, Colorado, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, New York, Ohio, Pennsylvania, Virginia, West Virginia and Wyoming, new customers are offered a $20 No Sweat First Bet at both the FanDuel Racing app and FanDuel Sportsbook app. You may claim both offers.