It appears that Kentucky Derby betting is changing – but is that true? While California was due to switch to exchange betting, the legislature decided at the last minute that May, 2012 was not the appropriate time. This left a lot of betting exchanges feeling that the state laws were still in the dark ages. While bettors and those that facilitate wagers are still angry about California’s decision, what does that have to do with the Kentucky Derby? Like California, within the state of Kentucky there are plenty of lawmakers that hold up production and keep betting from moving forward.
Reasons Kentucky Derby betting is restricted
Many residents of the state of Kentucky feel that the way people vote and what they actually do are two different things. It is commonly said that people in Kentucky vote with their feet. Instead of being able to bet at a casino in the state of Kentucky, they go on riverboats that are owned by residents of neighboring Indiana, Illinois, and Ohio states. In other words, there are plenty of people willing to go to a casino and now the state laws need to reflect that.
Within the state of Kentucky, there have been several attempts by local lawmakers to change the way betting and casinos operate. In their struggles, they have made several mistakes. Despite correcting fumbles of the past, the language that was used in the documents has now been changed. This should make many state lawmakers happy, but will it be in time for the next Kentucky Derby? In November of 2012, important decisions will be made; but no one seems to be able to speculate on the outcome.
Opponents of Kentucky Derby betting
In general, the opposition to gambling and horse racing tends to come from elected officials that are voting according to the ideals of their religion. Along with that, there are several websites that discuss the impact of new casinos and gambling laws, but they are mainly concerned about the effect betting changes will have upon the morality of children. These anti-gambling websites are the ones that want to encourage others to vote against any changes with betting used for the Kentucky Derby (or any similar institution where gambling is featured).
Betting on the Kentucky Derby
Since the founding of the Kentucky Derby in 1875, there has been a focus on pari-mutuel betting. This means that the betting pool is operated independently of the racetrack. At one time, racetracks and bookmakers were well known for fixing the odds to the disadvantage of the bettor. With a pari-mutuel scheme, few will need to worry about being cheated.
With corruption out of the way, betting on the Kentucky Derby is done in person at Churchill Downs, online, and with automatic teller machines (similar to a bank ATM). Obviously, this means that the outside companies that handle betting for the Kentucky Derby are well equipped to reach you from the internet or your cell phone.
Will the new Road to the Roses change betting?
The short answer to the question of whether big changes are coming to Kentucky Derby betting is … maybe. Depending on where you live in the world, different styles of betting are available for the Kentucky Derby. If you live in the United States, you can log in online and place your bet on the Kentucky Derby’s outcome. You will be allowed to pay for a bet on any horse you choose to win in any order that you want. The same odds are used, so picking a website to bet from is about the best rebates and coupons more than anything else. Nevertheless, the real question is whether things will change now that the Kentucky Derby has the new selection process for the race.
In 2013, the 20 Kentucky Derby horses will come from their new points system. Starting in September 2012, the three parts of the Championship Series will begin. When a horse runs and places in first through fourth place, they will earn a set of points. In the two months before the Kentucky Derby, betting is likely to start increases in a way that it has not before.
This will be due to the fact that one to two months before the Derby, there will be more points awarded to each of the pre-selected races. No doubt, newer horse racing fans will be logging online to see what all the hype is about. Of course, if a lot of people are placing bets before the Kentucky Derby, that means that this might be the largest Kentucky Derby betting pool of all times.
Possible new styles of Kentucky Derby betting
With the new parameters put in place by the Road to the Roses points system, there may be angles to betting that were previously unheard of in years past. For instance, it is common for college basketball playoffs to have a bracket. With the new Road to the Roses system, this type of bracket system will be a possibility. This means that games and bets can be placed on the bracket system alone.
Along with that, there will be new data created and therefore new opportunities for season and all-time points averages. Without a doubt, the points average bets that are commonly found in the NFL, NHL, and MLB may prove to be a successful way to reinvigorate Kentucky Derby betting in the long term.