How Big a Financial Win Is the Kentucky Derby Today For Louisville

HOW BOUT $435 MILLION?

To wit, from the Fiscal Times:

By the numbers, the Derby takes place on a grander and grander scale. Its economic impact on this old river city was at least $217 million, according to a study by Wilkerson & Associates in 2001, the last year the study was done. That’s a number economists here say has doubled over the past ten years.

In 2009, for example, 153,563 people gathered beneath Churchill Downs’ iconic twin spires on Derby Day and bet $21 million. Throw in the wagers that came in from far-flung tracks, off-site betting parlors and online, and $155.9 million was bet on Derby Day that year, $104.5 million alone on America’s greatest race.

The numbers were even higher in 2010. Last year a record crowd of 155, 804 was on hand, despite inclement weather early on, and total wagering from all sources, including on-track and off-track betting, was $112.7 million, a 7.8 percent increase from 2009.


And how much did Mine That Bird pay for a $2 bet?

More than $127 million was paid out to those holding winning tickets for Mine That Bird. There weren’t many of them: The gelding went off at stratospheric odds of 50-1, which meant he paid $103.20 for a mere $2 bet. Last year Super Saver went off at odds of 8-1 and paid $18 for a $2 win ticket.

We'll see what happens this year.