Image source: Bill Brine / CC BY via Wikimedia Commons
The Winner of the 2020 Kentucky Derby was Authentic. This outstanding horse probably won a lot of money for everyone who placed a bet on him. However, this year’s race wasn’t brought the expected success to the operators of the event, Churchill Downs. In numbers, the bettors spent 52% less money on wagers compared to 2019. Let’s take a closer look at the reasons behind this plunge while we take a glimpse at the run.
The Kentucky Derby is one of the biggest horse races in the US if not in the world. The annual race traditionally takes place on the first Saturday of May. This year the date is delayed to the 4th and 5th of September in the reflection of the current health crisis. The two-week-long festival also shortened and didn’t opened its gate in front of the audience either. The Kentucky Derby’s operator is the Churchill Downs, a racecourse in Louisville, Kentucky. This was the 146th time when the Derby is held.
The Event’s Revenue from Betting is Halved Compared to the Previous Year
In the previous year, the average betting revenue was $22.5 million each day of the Derby and $126 million. Last year, this amount was $165.5 million. This year it was the lowest since 2012, with $79.4 million.
There are many reasons for this revenue drop. First of all, the current life crisis made things way more difficult than anyone expected. The lack of an audience would be great financial damage by itself but the overall economic crisis, that was the final say-so. The people’s betting mood is significantly decreased. There were fewer racers as well and their conflict with Nevada also badly affected their business
The race was held without fans in attendance, and race operator Churchill Downs said the decline can be attributed to the lack of on-site betting and fewer horses on the track.
The Winner of the 2020 Kentucky Derby was Authentic
The winner of the 2020 Kentucky Derby was a great surprise. Authentic started the race with odds of 8 to 1 at the 1xBET Sportsbook. So, probably he earned a lot to the prepared ventures. This year no one achieved the Triple Crown, however, it’s better if you remember Autnetic’s name. This 3-year-old horse with this victory became the most promising equine in the current US scene. Stay tuned, and don’t afraid to bet on Authentic at the online sportsbooks.
Churchill Downs is optimistic in connection with the future of the Kentucky Derby
Despite the previously described plunge, the operators are optimistic. Churchill Downs CEO declared the following to express his gratitude: “We are grateful to our fans and our community for their support of the 146th Kentucky Oaks and Kentucky Derby.” He also highlighted that next year they will welcome back the audience, and we can expect the Kentucky Derby at the original date.
In summary, the latest gambling news was so cheerful that finally the Kentucky Derby is organized. Despite the smaller revenue, we should still appreciate that they managed the event despite all the difficulties.