Kentucky Derby season ended on a rather low note this year. The operator of the race, Churchill Downs, reported that the betting rates were massively low this year and stated a betting drop of 52%.
Churchill Downs attributed the drop in betting to the less number of horses on the track and the absence of on-site betting due to spectacle-less race.
The betting pool for this year’s race consisted of $79.4m, while last year the Derby recorded $165.5m in wagers, reported Gambling Insider.
ESPN reported that due to an on-going dispute over wager charges Nevada bookmakers did not participate in this year’s pari-mutuel (French for mutual betting) pool.
The Nevada bookmakers were pressing upon increase in charges on wager from 4.5% to 5.5% but could not convince Churchill Downs for the data fees and went on to accept wagers independently.
The pari-mutuel pool for the 2020 race was $126m, the lowest amount since 2002.
Churchill Downs CEO, Bill Carstanjen stated that, “We are grateful to our fans and our community for their support of the 146th Kentucky Oaks and Kentucky Derby.” Carstanjen also expressed hope to see the fans in next year’s Derby which is set to take place on the first weekend of May, 2021.