How Much Money Does The Kentucky Derby Winner Earn?
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There are few more iconic sporting events on the calendar than the Kentucky Derby. The race is the biggest horse racing event in the United States, and a global audience will watch the action from Churchill Downs on the first Saturday in May every year.
Its prestige ensures a talented field always goes to post, as it is the oldest sporting event to be held since its inception in the United States.
As well as being one of the most prestigious events on the racing calendar, it is also one of the most lucrative, with the field competing for their share of the $5 million purse. But how is the money divided between the top finishers in the race?
How Much Is The Kentucky Derby Worth?
A shot at immortality awaits the runners that will line up in the 151st Kentucky Derby in 2024, as they could join the likes of Seattle Slew, Secretariat, and American Pharoah.
Victory will also be one tick in the box in terms of Triple Crown success, and the winner’s attention can quickly turn to a date with destiny in the form of the Preakness Stakes at Pimlico.
For the second year running, the Derby will boast a purse of $5 million. The purse was increased ahead of the 2024 edition, which Mystik Dan won for trainer Kenneth McPeek.
How Much Does The Winner Earn?
Winning a 20-runner field requires a big purse, reflected by the Kentucky Derby winner picking up a staggering $3.1 million. The prize fund is divided between the owners, jockeys, and trainers.
The horse owner will take home 80% of the returns, while the remaining 20% is split evenly between the trainer and jockey.
Therefore, success in the Derby is not only a massive success on the CV for a rider but can also result in winning life-changing money. Victory in the Derby can help the riders’ lives for the better and can ensure a bright future for their family.
Who Else Picks Up Prize Money?
It isn’t just the winner of the Derby that picks up their share of the purse, as each of the top five finishers will also get their slice of the pie. The runner-up in the field will take home $1 million, while the third gets half of that sum.
Fourth place will pick up $250,000 and the fifth-placed horse will earn $150,000. Those returns would have been incredibly agonizing for the connections of Resilience in last year’s edition of the Derby, as the three-year-old finished just a length behind fifth-placed T O Password.
So, awarding the best placed finishers ensures that owners are rewarded for taking the gamble and entering their contender on the Road to the Kentucky Derby.
How Has The Prize Money Changed?
The prize money on offer in the Kentucky Derby has changed drastically throughout history. That can be reflected when you return to the race’s first edition in 1875. Oliver Lewis was aboard Aristides, who won the first-ever Kentucky Derby.
The victory saw the winner pick up just $2,850 in prize money, with the runner-up gaining returns of $200. It is unlikely that many of the international runners who nowadays travel to Churchill Downs would make the journey to the U.S. if the prize money hadn’t improved.
The first big jump in the prize money offered came in 1955, as over $100,000 was issued to the winner of the Derby for the first time. This increased to $400,000 in 1985, with the runner-up gaining $100,000 for the first time.
Since then, the prize fund has increased regularly, with $700,000 being taken home by 1995 Derby winner Thunder Glutch. The winners’ fund passed the million mark for the first time in 2005 when Giacomo won for the Mike Smith and John Shirreffs combination.
How Does The Prize Fund Compare To Other Triple Crown Races?
The Kentucky Derby is the most lucrative of the three Triple Crown races in the United States. Both the Belmont and Preakness Stakes offer purses of $2 million. In fact, the Preakness and Belmont winners take home less than $1 million of the purse. Find more information about Preakness here. https://www.twinspires.com/preakness-stakes/
However, the latter offers place money to as far down as eighth, which is always considered a bonus as it typically sees fewer entries than the Derby. The first Preakness winner was Survivor, who collected $2,050 in prize money after winning by ten lengths.
Therefore, the gap between prize money between the Triple Crown races was never as wide as it is today. However, constant changes are being made to the purses on offer, meaning that it is only a matter of time before the winner of the subsequent two legs of the Triple Crown picks up checks worth $1 million after landing victories.
Jason Butler is the owner of My Money Chronicles, a website where he discusses personal finance, side hustles, travel, and more. Jason is from Atlanta, Georgia. He graduated from Savannah State University with his BA in Marketing. Jason has been featured in Forbes, Discover, and Investopedia.
