This page may contain affiliate links to legal sports betting partners. If you sign up or place a wager, FOX Sports may be compensated. Read more aboutSports Betting on FOX Sports. The Kentucky Derby is one of the biggest betting events of the year, and if youre looking to get involved, knowing how to place a bet quickly and correctly can make all the difference when the gates open. Getting started with FanDuel is simple. FanDuel gives users access to horse racing through FanDuel Racing, its dedicated racebook platform that features hundreds of races across the U.S. and internationallyincluding the Derby itself. From there, you can choose your bet typewin, place, or show are the most common, but exacta, trifecta, and superfecta bets offer bigger payouts if youre feeling bold. After selecting your horse or combination, enter your wager amount, review the odds, and confirm your bet before post time. The key is timing and strategydo you ride with the favorite, or take a shot on a longshot for a massive payout? Once your bet is placed on FanDuel, all thats left is to watch the race unfold and see if your pick can surge down the stretch at Churchill Downs. Start with the New User offer If youre new to FanDuel, their welcome offer provides the best value. New users can bet $5 and get $250 in bonus bets if that first wager wins. FanDuel Sportsbook and FanDuel Racing share a single account and wallet in many states, making it easy to move between sports betting and racing without missing a beat. However, theres an important distinctionbonus bets are tied to the platform theyre issued from. That means Sportsbook bonus bets cant be used on racing, but any cash winnings you earn can be used freely across both. How to Claim the $250 in Bonus Bets, No Promo Code Needed FanDuel Racing welcome bonus New FanDuel Racing users can grab a welcome dealbet $5 and earn a $25 racing bonus if it hits. The bigger value typically sits with the FanDuel new user offer, a $5 wager can win $250 in bonus bets, making it the stronger starting point for new players. Start by maximizing FanDuel's welcome offer, then use your bonus bets to dive into the action on FanDuel Racing. With a shared wallet, live streaming, and a wide range of bets, youll be fully equipped for one of the most exciting two minutes in sports. Where is FanDuel Racing Eligible? Eligible states like Colorado, Illinois, New York, Ohio, and Pennsylvania, users can even access racing directly through the main Sportsbook app, creating a smooth, all-in-one betting experience. For states where that integration isnt available, FanDuel Racing operates as its own platformbut still connects to your main account and wallet where permitted. FanDuel Kentucky Derby odds FanDuel Racing's odds are subject to change up until the race. FanDuel Kentucky Derby Markets Here are the different types of bets you can make with FanDuel: