The Kentucky Derby remains one of the most iconic racing events in America, hosted each year on the first Saturday in May at Churchill Downs in Louisville, Kentucky. Fans from across the world tune in to watch the fastest three-year-old Thoroughbreds compete for glory, while bettors search for value, longshots, and that rare ticket that could pay out big.
The 152nd Kentucky Derby will take place on Saturday, May 2, 2026, and although the full lineup won’t be confirmed until Derby week, betting markets are already active. Futures odds allow bettors to lock in prices early, before major prep races in early 2026 begin to reshape the field.
Below is a snapshot of the latest Win & Each-Way odds available from sportsbooks as of December 24, 2025. These Kentucky Derby odds will move frequently based on qualifying points, prep-race performance, and injury news.
| Horse | Odds |
|---|---|
| Ted Noffey | 7/1 |
| Paladin | 9/1 |
| Boyd | 10/1 |
| Further Ado | 14/1 |
| Cannoneer | 16/1 |
| Blackout Time | 20/1 |
| Brant | 20/1 |
| Chip Honcho | 25/1 |
| Napoleon Solo | 25/1 |
| Renegade | 25/1 |
| Englishman | 25/1 |
| Liberty National | 25/1 |
| Ewing | 25/1 |
| Increditbolt | 25/1 |
| Litmus Test | 25/1 |
| Pyromancer | 25/1 |
| Universe | 25/1 |
| Satono Voyage | 33/1 |
Ted Noffey currently leads the early market, sitting at 7/1. His performances in late-season juvenile competition have positioned him as the horse to watch heading into January’s prep schedule. Behind him, Paladin (9/1) and Boyd (10/1) round out the top three, suggesting a competitive field with no overwhelming favorite yet.
Longer-priced names like Satono Voyage (33/1) appeal to bettors who prefer high-return gambles, especially if they believe this colt could peak later in the prep season.
Not every horse is guaranteed a place in the starting gate. Each year, hundreds of eligible three-year-olds begin the season, but only 20 qualify. Spots are awarded through a structured process known as The Road to the Kentucky Derby, which assigns points to horses finishing in the top positions of selected prep races.
These races begin in September and continue through the winter and spring. Major Grade 1 and Grade 2 events, such as the Florida Derby, Louisiana Derby, Santa Anita Derby, and Blue Grass Stakes, often shape the final leaderboard.
Bettors tracking prep-race replays will gain a major advantage. A horse that appears average in shorter mile races can suddenly improve once stepping up to the Derby-distance 1 1/4 miles.
If you’re new to futures betting, one thing matters above all: odds right now are not guaranteed to hold. A horse that’s 7/1 in December could drift to 15/1 by March, or shorten to 3/1 if it dominates a prep race.
Some factors that reshape odds:
A perfect example of unpredictability came in 2022, when Rich Strike, a horse not even expected to run, was only added to the field due to a last-minute scratc, and then won the Derby at 80-1, creating life-changing payouts.
Whether you prefer a low-risk Kentucky Derby betting experience or dream of hitting a large exotic payout, understanding wagering styles is essential.
These focus on a single horse:
These multi-horse wagers are harder to hit, but produce the most eye-catching payouts:
Bettors may also box an exotic bet, which allows horses to finish in any sequence, but increases cost.
Future wagering pools traditionally open:
Early bets can offer the best price, because a 25/1 horse that suddenly wins a major prep may drop to 8/1 overnight. However, betting early includes the risk that the horse never even makes the Derby gate.
To stay ahead of line movement:
With months remaining before Derby day, betting is still driven by speculation and early performance indicators. While Ted Noffey sits atop the odds board at 7/1, the Derby trail is long, and one prep race can rewrite everything.
Whether you're eyeing a conservative place bet or swinging for a superfecta payday, understanding odds now will give you a major edge when May 2, 2026 arrives.
The writing team at US Racing is comprised of both full-time and part-time contributors with expertise in various aspects of the Sport of Kings.
