TLDR Kentucky passed HB 904, allowing tracks to offer fixed-odds horse racing wagers alongside traditional parimutuel betting The law takes effect mid-July 2026, but regulations still need to be created before any track can offer fixed-odds Churchill Downs confirmed it will not offer fixed-odds wagering at any of its racetrack properties Lawmakers say fixed-odds betting could attract younger bettors and allow cross-sport parlays with football and basketball Other Kentucky tracks like Keeneland, Kentucky Downs, and The Red Mile could be the first to adopt fixed-odds racing
Kentucky has a new law on the books that will allow horse racing tracks in the state to offer fixed-odds betting. But the biggest name in Kentucky racing wants nothing to do with it.
House Bill 904 passed the Kentucky General Assembly and was enacted on April 14 after lawmakers overrode a veto from Gov. Andy Beshear. The law includes several provisions related to horse racing wagering, including one that opens the door for fixed-odds betting at the state’s tracks.
The timing comes just ahead of Kentucky Derby 152, which takes place Saturday at Churchill Downs in Louisville. The race is expected to draw upwards of a quarter-billion dollars in bets on the 20-horse field.
All of that money will flow through the traditional parimutuel system. That system pools all bets together, takes out a percentage for the track, and divides the rest among winning bettors.
Fixed-Odds Aims to Solve a Growing Problem
Parimutuel wagering has faced criticism in recent years because of computer-assisted wagering services. These services place millions of dollars in bets across the country, often near the start of a race.
That late money causes expected payouts to drop for bettors who placed their wagers earlier. Final odds can shift during the race itself, frustrating regular bettors who