Kentucky Derby betting drops by more than 50 percent without on-site wagering in 2020

Authentic won the 2020 Kentucky Derby on Sept. 5

Authentic upset Belmont Stakes winner Tiz The Law this past weekend in the 146th running of the Kentucky Derby. However, the total amount wagered on the Kentucky Derby was down 52 percent compared to last year.

During last Saturday's Kentucky Derby, no fans were allowed to attend the race at Churchill Downs as a result of the coronavirus pandemic. Churchill Downs reported that $79.4 million was bet on this year's Kentucky Derby compared to a record of $165.5 million bet on the iconic race in 2019.

Churchill Downs officials believe that no on-site wagering was a factor in the dip in the amount of wagers. There were just 15 horses in this year's Kentucky Derby, which was the smallest field since 1998.

"We are grateful to our fans and our community for their support of the 146th Kentucky Oaks and Kentucky Derby," Bill Carstanjen, CEO of Churchill Downs Inc., said in a statement. "We look forward to seeing our loyal fans at next year's 147th Kentucky Oaks and Kentucky Derby on the first weekend of May."

Oddsmaker William Hill also reported that eight percent of the money that was wagered on the Kentucky Derby had picked Authentic to win, while Tiz the Law received 48 percent of the money.