This year’s Kentucky Derby airs on Saturday, and will award an eye-watering $5 million purse to the frontrunners of the world’s biggest horse race. The fastest competitor will bring home $3.1 million, with runner-ups receiving anywhere from $1 million to $150,000. It’s expected the prizes will only continue to grow.

Just two minutes on the track decides the fate of $5 million in grand prizes. That’s because the Kentucky Derby is back in town for its 151st year.

The horse race is the longest running major sporting event in U.S. history—and the stakes have risen as the competition has grown even more fierce, with 20 horses going head to head for the chance to win five huge cash prizes.

“With a record $5 million in prize money now guaranteed for the Kentucky Derby, the winner will receive the event’s highly sought-after gold trophy, a $3.1 million payday and possibly millions more as a stallion after retirement from racing,” the Kentucky Derby wrote in a memo.

It’s not only the frontrunner bringing home stacks of cash.

The organization’s website also notes that the runner-up will be awarded $1 million, while third place receives $500,000, fourth place gets $250,000, and fifth takes home $150,000.

The payouts are right on par with other top races including the Breeders’ Cup Classic with a $7 million purse, and the Prix de l’Arc de Triomphe’s €5 million ($5.6 million) prize lot. But the Kentucky Derby will have the most fans showing up, as it’s one of the world’s most popular horse racing events.

Millions of viewers from around the world will be watching this year’s “most exciting two minutes in sports” on the edge of their seats live this Saturday May 3 on NBC and USA Network. And the prizes will only grow bigger as more fans and better horses flock to the Kentucky track.

The Kentucky Derby purse is only getting bigger

As new horses have continued to raise the bar of the sport, the Kentucky Derby is paying back its star competitors. In 2018 Churchill Downs Incorporated, the racecourse famous for hosting the event, made an over $1 billion investment which “supercharged” the prize money.

“These record purse increases are a symbol of the health of horse racing in Kentucky,” said Bill Carstanjen, CEO of Churchill Downs Incorporated.

Just two years ago, the event’s purse guaranteed $3 million, until Churchill Downs’ backing added $2 million to the award. It’s a natural progression from the 151 years of pay bumps—in 1875, the winners were awarded $1,000, or around $30,000 today adjusted for inflation. It would be another 70 years until the purse hit the six-figure mark in 1946, with the frontrunners given $100,000.

Kentucky Derby horses would finally compete for a $1 million purse in 1996, when the prizes started increasing by the million. But increases to the grand race’s purse are often sporadic, spaced out anytime between one year and twenty. So, with the $5 million award sum being set in 2024, it’s likely to be at least another couple of years until a pay bump is added.

Record $210 million bet on 2024 Kentucky Derby

Around 150,000 people will be flocking to the world’s most jubilant horse race, and there are a few fan-favorites anticipated to take home the golden cup.

The best predictions come straight from the horse’s mouth: Kentucky Derby experts. Racing and handicapping analysts from all over the U.S. detail their top ten lists of contenders—and a few horses emerge as clear popular picks, in no particular order.

Journalism
Burnham Square
Sovereignty
Baeza
Final Gambit
Sandman
Citizen Bull
Luxor Cafe
Rodriguez
Grande

The Kentucky Derby’s live odds ranking also gives spectators a peek into the probability of their favorite horse taking home the trophy. At last year’s event, a record $210 million was wagered on the main race, up from $188 million in 2023. And wagering from all sources on the Kentucky Derby Day program—which features multiple events—set a new record of $320.5 million in 2024, beating the previous year’s $288.7 million.

The lower odds, like Journalism ranked at 4, represent the favorites: for every $1 wagered, there would be a $4 return if the horse wins. When it comes to competitors like Baeza with odds of 51, the higher odds equals a riskier bet—but it’s also a chance to reel in a greater payoff. Meaning if someone bet $100 on an underdog like Baeza, a victory would mean a $5,100 payout.

The Kentucky Derby winners of the ‘most exciting two minutes in sports’ will bring home a purse of $5 million