Churchill Downs is upping the ante for the 150th running of the Kentucky Derby.
As announced earlier this month, the purse for this year’s race is up to a record-setting $5 million guaranteed. It’s a $2 million boost from last year’s payout.
This year’s Kentucky Derby winner will receive $3.1 million, with $1.1 million going to the runner-up, $500,00 for third place, $250,000 for fourth, and $150,000 for fifth.
“It is truly gratifying to view the steady growth of the Churchill Downs racing product and the entire Kentucky horse racing and breeding industry, which bettors around the world have embraced,” Churchill Downs Racetrack President Mike Anderson said in a company statement. “Through the purses generated by the racing association and the Kentucky Thoroughbred Development Fund, Kentucky horsemen and horsewomen are reaping the benefits of Churchill Downs Incorporated’s historic investment as we celebrate this year’s milestone 150th Kentucky Derby.”
This year’s Kentucky Derby will be the richest in history as the purse for the first jewel of U.S. thoroughbred racing’s Triple Crown has been raised 67% to a record $5 million guaranteed, Churchill Downs said on Wednesday. https://t.co/SDy5zIShum https://t.co/SDy5zIShum
— Reuters Sports (@ReutersSports) January 10, 2024
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Headlined by The Run for The Roses, 50 races held as part of Churchill Downs’ 2024 Spring Meet collectively contain a $25.6 million purse. It’s a 25 percent increase from last year.
Multiple events, including the $1.5 million Kentucky Oaks, each received a $250,000 hike.
“These record purse increases are a symbol of the health of horse racing in Kentucky,” said Bill Carstanjen, CEO of Churchill Downs Incorporated.
Horse racing’s biggest event of the year, the Kentucky Derby marks the first leg of the triple crown. The Fastest Two Minutes in Sports spans 1 1/4 miles at the famous Louisville course.
This year’s Kentucky Derby takes place on Saturday, May 4.