Kentucky derby party ideas betting
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Next, get each of the pool participants to sign their name next to the horse that they think will win the Derby. Make sure that everybody puts up the same amount of money and whoever chooses the winning horse, must divvy up the pot. If nine out of the 10 participants choose the favorite — and it wins — they will have to split the winnings nine ways.
However, if the person that chose the underdog horse wins the pool outright they get to keep all the proceeds. Ask each of your guests to contribute a sum of money to a pool, then place the names of all the Derby horses in a hat. The pool winner is crowned when a participant has picked the name of the winning horse. Horse auction Hold your very own thoroughbred auction, whereby each Kentucky Derby racehorse is auctioned off to a participant. Keep in mind that the odds-on betting favorite will fetch a higher price than the long shot.
Add the auction sums to a pool and whoever bought the winning horse at auction wins the pool. Lucky long shots Here, you are betting on which horse will finish last and not first. To crown a winner, simply apply the last place wins rule to the above-mentioned games. Envelopes for sale Place the name of each Derby horse inside a sealed envelope. Set a price for each envelope that aligns with your group's wagering expectations and budgets. Each participant picks an envelope when they pay for it, but they must not open it.
At the conclusion of the race, take turns opening your envelope to see which one holds the winner's name. The winner secures the entire pool winnings and bragging rights for the year. The fun here is that participants are encouraged to trade, sell or barter their envelopes any time prior to opening them. Kentucky Derby betting squares Long a fixture at any self-respecting Super Bowl party, a betting square can be equally useful and easily adaptable to Kentucky Derby party organizers.
We find the easiest way to do it is by betting the exacta. Since there are 20 horses in the field, you should list each of those numbers on one side of the square. For the opposite side, you need to list all those numbers again which represents the horse that finishes second. You must cross out the squares where the same numbers meet because a horse can't finish both first and second in the race. That leaves possible squares and only one will be correct. As the organizer, you can set a price that is reasonable for each square — low enough that people can afford to buy several squares, but high enough so the pot is enticing.
Whoever buys the winning square takes the entire pot. Show parlay Keeping things simple makes it more fun for the group. Must have mint juleps: It is stunning how many mint juleps get consumed at the Derby. And these aren't weak little drinks, either - they knock your socks off.
They are very easy to make at home, and as the official drink of the Derby they bring authenticity to your event. A good mint julep isn't fancy. Some fresh mint. Some simple syrup. Some ice. And a lot of bourbon. But it has to be real Kentucky bourbon. And it needs to be stiff. Some people might struggle with the first one. But by the third one they will go down very easy. Too easy. How to make a betting pool for the Kentucky Derby It's not a horse race if you aren't betting on it.
There are, fortunately, lots of easy ways to offer fun and fair betting at home. You don't even need a math degree to pull these off. Run your own mutuels: Thanks to the miracles of computers and the Internet, there are all sorts of good ways to offer mutuel betting at home. If you have your own betting account at an online sportsbook or an online racebook, you can place people's bets out of your account and collect their cash or get an online transfer.
If you don't want to get that complicated, you can easily run your own pool. It's actually pretty easy. Let's say that you are taking win bets, and that people can bet in multiples of one dollar. The people who made those bets get their bets back. You can set this up easily in a spreadsheet, or there are apps available that will help you do it.
The fun really happens if a horse wins that no one has bet on. You could refund the money, but that's boring. It's more interesting if you donate it to charity, or if you have another contest of some sort to decide who gets the cash. Auction action: If you don't want to deal with running your own mutuel betting an easier, and often more fun, way to do it is through an auction. You can offer each horse up for sale and throw all the money into a pot.
The person who owns the winning horse gets all the money. The fun of this approach is that the favorites usually go for big money - Justify would have drawn some insane money last year - but you can pick up the last few horses in a few for very little money. So, in a year like when Mine That Bird shocked the world, chances are very good that whoever bought him in auctions would have paid almost nothing for him, and they would have been in for a sweet payday.
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How To Host A Kentucky Derby Party
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Make sure that everybody puts up the same amount of money and whoever chooses the winning horse, must divvy up the pot. If nine out of the 10 participants choose the favorite — and it wins — they will have to split the winnings nine ways.
However, if the person that chose the underdog horse wins the pool outright they get to keep all the proceeds. Ask each of your guests to contribute a sum of money to a pool, then place the names of all the Derby horses in a hat. The pool winner is crowned when a participant has picked the name of the winning horse. Horse auction Hold your very own thoroughbred auction, whereby each Kentucky Derby racehorse is auctioned off to a participant.
Keep in mind that the odds-on betting favorite will fetch a higher price than the long shot. Add the auction sums to a pool and whoever bought the winning horse at auction wins the pool. Lucky long shots Here, you are betting on which horse will finish last and not first. To crown a winner, simply apply the last place wins rule to the above-mentioned games. Envelopes for sale Place the name of each Derby horse inside a sealed envelope.
Set a price for each envelope that aligns with your group's wagering expectations and budgets. Each participant picks an envelope when they pay for it, but they must not open it. At the conclusion of the race, take turns opening your envelope to see which one holds the winner's name.
The winner secures the entire pool winnings and bragging rights for the year. The fun here is that participants are encouraged to trade, sell or barter their envelopes any time prior to opening them. Kentucky Derby betting squares Long a fixture at any self-respecting Super Bowl party, a betting square can be equally useful and easily adaptable to Kentucky Derby party organizers.
We find the easiest way to do it is by betting the exacta. Since there are 20 horses in the field, you should list each of those numbers on one side of the square. For the opposite side, you need to list all those numbers again which represents the horse that finishes second. You must cross out the squares where the same numbers meet because a horse can't finish both first and second in the race.
That leaves possible squares and only one will be correct. As the organizer, you can set a price that is reasonable for each square — low enough that people can afford to buy several squares, but high enough so the pot is enticing. Whoever buys the winning square takes the entire pot.
Show parlay Keeping things simple makes it more fun for the group. The Show Parlay is an excellent choice for Derby betting since nobody in your group needs to be an expert on horse racing. The fun really happens if a horse wins that no one has bet on. You could refund the money, but that's boring.
It's more interesting if you donate it to charity, or if you have another contest of some sort to decide who gets the cash. Auction action: If you don't want to deal with running your own mutuel betting an easier, and often more fun, way to do it is through an auction. You can offer each horse up for sale and throw all the money into a pot. The person who owns the winning horse gets all the money. The fun of this approach is that the favorites usually go for big money - Justify would have drawn some insane money last year - but you can pick up the last few horses in a few for very little money.
So, in a year like when Mine That Bird shocked the world, chances are very good that whoever bought him in auctions would have paid almost nothing for him, and they would have been in for a sweet payday. If you want to get a little creative and have more fun, you can split up the field in ways other than just horse by horse.
You can auction horses off by trainer - with three of the favorites in the field this year, Bob Baffert will go for a massive price. You can have a lot of fun going by the colors of the horses as listed in the program or splitting the field up by the state they ran their last race in. There is really no limit to the ways you can set up your action. Kentucky Derby betting games ideas If you don't feel like messing around with the options above, there are other simpler ways to allow people to have a rooting interest in the race.
The advantage of these approaches is that there is no skill involved, so if your guests don't have a lot of handicapping skill this could be the way to go. Sell envelopes: Put the name of each horse inside an envelope and seal it up. Make sure that you can't see the name through the envelope. People get to pick an envelope when they pay for it, but they don't open it.
After the race has been run, people take turns opening their envelope to see who has the winner's name inside. That person gets the whole pool and bragging rights for the year. People are of course free to trade, sell or barter their envelopes any time before they are opened, too. Kentucky Derby betting square: A betting square is a fixture at any Super Bowl party.
You can easily adapt it to work for the Derby. The easiest way to do it is by betting the exacta. There are 20 horses in the field. On one side of the square you list each of those numbers. That's the win side. On the opposite side you again list all those numbers, and that is the horse that finishes second.
You have to cross out the squares where the same numbers meet - a horse can't finish both first and second in the race. But that leaves possible squares, and only one will be correct. You can set a price that is reasonable for each square - low enough that people can afford to buy several, but high enough that the pot gets up to a good size. Whoever buys the winning square gets the pot.
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