Kentucky Derby A Big Success Despite Weather

Despite rainy conditions, the 151st Running of the Roses broke attendance and betting records, to Churchill Downs' satisfaction.

Ziv Chen

Last updated: May 6, 2025 4:35 PM EDT • 2 min read

Pictured: Jockey Junior Alvarado celebrated after riding Sovereignty to victory in the 151st Kentucky Derby at Churchill Downs. Photo by Jeff Faughender / Courier Journal via Imagn Images.

The 151st running of the Kentucky Derby in rain-soaked conditions at Churchill Downs was a wagering and attendance record-breaker. Sovereign took the prestigious race, known as the "Run for the Roses," before a crowd of more than 147,000 at historic Louisville's racetrack.

Churchill Downs Incorporated (CDI) announced that all-sources betting on Kentucky Derby Day reached a new record handle of $349 million, up from last year's high-water mark of $320.5 million. The Kentucky Derby drew $234.4 million in all-sources betting, up from the 2024 record of $210.7 million.

Derby Week also set new records at our best sportsbooks, with overall wagering coming in at $473.9 million, up from $446.6 million in 2024.

CDI-owned TwinSpires, the official betting partner of the Kentucky Derby, played a key role in setting the new records. On Derby Day alone, TwinSpires processed $108 million in bets on Churchill Downs races, a figure higher than the previous year's record of $92.1 million.

Gaming, specifically on the Kentucky Derby race in TwinSpires, reached $73 million, an improvement over the $60.9 million recorded for 2024. All settled future wagers and affiliate gaming activity are captured in the totals.

CDI President and CEO Bill Carstanjen expressed his satisfaction with the event's outcome and with the company's ability to build on momentum from its milestone anniversary year of 2024.

“We congratulate the connections of Sovereignty on an impressive win over a very talented field of horses,” said Carstanjen. “We are thrilled with our performance following the 150th milestone year in 2024, and we will grow the Kentucky Derby in the years to come.”

Churchill Downs Happy with the Outcome

Despite rainy weather conditions during the race, the event's commercial achievement and operating results were sound. CDI expects financial performance during Derby Week to emerge as one of the company's two biggest all-time Adjusted EBITDA performances.

It is nevertheless predicted to come up short, however, at between $2 and $4 million below last year's performance level, which was posted on the record 150th running of the event.

The company emphasized that it used various non-GAAP financial metrics, including Adjusted EBITDA, adjusted net income, and adjusted diluted earnings per share, to gauge its operating performance. These measures are employed internally to analyze period-to-period performance and are intended to reflect CDI's core operations.

Adjusted EBITDA, in particular, is used to evaluate segment performance, guide strategic decision-making, and allocate resources. CDI cautioned that these non-GAAP figures should not be used as substitutes for GAAP measures like net income or cash flow.

The record-breaking betting performance of the 151st Kentucky Derby attests to the event's strength and long-lasting popularity. With investment in technology by sites like TwinSpires and increased activity by a global betting community, Churchill Downs expects to continue positioning itself as the leading figure in both conventional and online realms of horse racing entertainment.

Written By:
Ziv Chen

Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.