Churchill Downs Mulls Selling TwinSpires Betting Unit

Kentucky Derby

Churchill Downs Inc. is looking at the possibility of selling TwinSpires Racing, the official betting partner of the Kentucky Derby among other races, in a deal that could fetch them $1.5 billion.

According to a repot from, Churchill Downs is working with an adviser in a bid to gauge interest in the sports betting platform. The information however is not public and the Louisville-based gambling company has refused to comment on the issue. As of this writing, Churchill Downs is still in control of the operations of the betting company.

TwinSpires operates online sportsbooks in Arizona, Colorado, Indiana, Michigan, News Jersey, Pennsylvania and Tennessee. Moreover, it offers retail sports betting in Colorado, Indiana, Mississippi, Pennsylvania and Arizona. The brand also has online casinos in Michigan, New Jersey and Pennsylvania.

Churchill Downs Shares Went Up

Led by Chief Executive Officer Bill Carstanjen, Churchill Downs has a value of $8.8 billion. The company’s shares rose to an intraday high of $236.26 when the Bloomberg reported that the company was considering a sale of TwinSpires.

TwinSpires Horse Racing brought in an adjusted EBITDA of $31.2M in the third quarter of 2021 which was a significant 56% increase from its third quarter 2019 numbers Likewise, TwinSpires’ Horse Racing betting handle in the third quarter of 2021 rose by 56% compared to its third quarter 2019 figures.

Mergers and Acquisitions Are a Trend

The sports betting industry has boomed in the United States since the U.S. Supreme Court repealed the 1992 Professional and Amateurs Sports Protection act in 2018 which limited sports betting to the state of Nevada. As of the present, some 30 states have started legal sports betting in their respective jurisdictions with several more waiting in the wings.

Because of this, acquisitions and mergers have been heating up in the gambling industry
The most prominent merger was when Caesars Entertainment and Eldorado Resorts last year. Most recently, Penn National Gaming bought Score Media while DraftKings purchased the Golden Nugget Online Casino.

Kentucky Derby Betting in Nevada is Now Available!

Kentucky Derby Betting

The biggest horse race of the year is now just around the corner! For months, many have been asking whether or not Kentucky Derby betting in Nevada would be available this year. Fortunately, the Nevada Gaming Commission has agreed to allow wagering on this massive event.

The Kentucky Derby is one of the most-bet-on annual events in the US. The 2021 race is expected to break sports betting records. Today, we’ll discuss why Nevada is now choosing to allow betting on the big race.

Let’s get into it.

US Sports Betting Revenue is Increasing Once Again

The United States is still home to the fastest-growing sports betting industry in the country. Back in May of 2018, the US Supreme Court decided to strike down PASPA. Since that time, gambling revenue has been steadily increasing.

More than half the country has already passed laws to regulate sports gambling. That includes many of the states known for having tough anti-gambling laws. The massive amount of revenue coming in from this industry is too much for states to ignore.

Back in February, many states reported large drops in their sports betting revenue figures. That was a surprise for some analysts. Many expected Super Bowl LV to bring states record-high sports gambling revenue numbers.

Things are already bouncing back. Several states have released their revenue reports for the month of March. New Jersey, for example, saw a huge month-on-month increase in sports gambling revenue last month. That is great news for the casinos in Atlantic City still working hard to bring in money.

Several big sporting events are taking place over the next few months that will help to bring in big revenue figures. That includes the Kentucky Derby, set to take place on May 1.

For a time, it appeared that Nevada would prohibit betting on the big race. That is no longer the case. Here’s what we know about this exciting situation.

Gaming Commission Agrees to Allow Kentucky Derby Betting in Nevada

Nevada is known for being one of the biggest sports gambling hubs in the United States. A huge number of sportsbooks are operating throughout the state. Las Vegas, in particular, is home to some of the biggest, most expensive sports betting establishments in the country.

The NV Gaming Commission is responsible for monitoring what sporting events these venues are able to offer odds on. Strict rules are set in place for the state’s sports gambling companies. Heading into the race next month, it seemed as if it would be illegal to make wagers on the 2021 Kentucky Derby in Nevada.

Many were publicly complaining about this decision. The issue eventually found its way to the Nevada Gaming Commission. Today, this state government body unanimously agreed to allow Kentucky Derby betting in Nevada at licensed sportsbooks.

Under the rules, sportsbooks will need to utilize a nationally-televised broadcast to determine the results of this race. Several important clauses have been set in place for the race. That includes stopping all bets as soon as the first horse enters the race cage, ordering that races are aired live at sportsbooks, and more.

Tony Nevill, race and sportsbook director at Treasure Island, spoke about the big news to the media this week.

“We’re really looking forward to a thrilling turnout at the end of this month,” he said. “Between the Pro Football Draft and Derby Weekend, we’re going to see a nice gathering of sports and race fans placing big bets on their favorite outcomes. There’s nothing like catching all the action live and placing bets at a sportsbook surrounded by other excited fans.”

The majority of sportsbooks across Nevada will now be offering odds on next month’s big race. You don’t have to be in this state to make wagers on this event, though. Let’s check out the odds available online for this event.

Breaking Down the 2021 Kentucky Derby Betting Odds Online

Nevada is one of many states with a regulated sports betting industry up and running. It’s far from the only place in the country where this form of gambling is allowed. In fact, many fantastic online sportsbooks are now up and running around the entire country.

BetOnline is quickly becoming one of the most popular US sports betting sites to bet on this event. This site is known for its safe payment options and great odds. It’s extremely easy to bet on every single horse slated to compete in the Kentucky Derby here.

At the moment, Essential Quality is listed as the +300 favorite to win on May 1. The Brad Cox-trained horse has been on a tear lately at 5-0-0 in five starts. It’s a safe bet and one that could end up paying off in a big way.

Rock Your World is second in the odds at +550. This horse is trained by John Sadler and has gone 3-0-0 in three starts. It’s expected to be at the front early on in the race and may maintain that lead into the finish line.

There are many other underdogs worth checking out. A growing number of racing fans are starting to believe that Hot Rod Charlie has a real shot at winning. With odds of +1000, this is a horse that could make bettors happy.

Are you excited to hear that Kentucky Derby betting in Nevada is now available? Which horse do you think gets the job done next month? Let us know in the comments section below!