It’s an exciting time for sports fans with the NHL and NBA playoffs in full swing, baseball season underway, and the highly anticipated Kentucky Derby happening this weekend, adding an extra touch of excitement to the early May weekend and signaling the approach of summer.
For many, one of the highlights of the Kentucky Derby is betting the race. While sports betting may be off-limits for Florida residents, they can still indulge in the thrill of horse racing betting. Newcomers signing up for FanDuel Racing can benefit from a generous welcome offer potentially worth up to $500.
Can you bet on the Kentucky Derby in Florida?
Yes, you can. Even though sports betting is still illegal in the Sunshine State, horse racing betting is 100% legal when you use regulated online sportsbooks like FanDuel Racing.
FanDuel Racing sign-up offer for Florida residents
New users who sign up for a FanDuel Racing account in Florida can seize an initial bet valued at up to $500.
All you need to do is create a new account and place your first bet on the Kentucky Derby. If your bet is successful, congratulations! You’ve had the chance to place your wager with reduced pressure and concern. You’re now eligible to withdraw your winnings.
However, if your bet doesn’t go according to plan, FanDuel will provide compensation in the form of bonus bets equivalent to your initial stake, up to $500. For instance, if your first bet was $300 and it doesn’t succeed, you’ll receive a $300 bonus bet. These bonus bets expire within seven days of being issued and must be wagered at least once before they can be withdrawn.
Joining FanDuel Racing
If you’re a newcomer to the FanDuel family of products, here’s how you can set up a FanDuel Racing account and make the most of the new user promotion:
- Use this exclusive MLive link to access the sign-up page.
- Complete all necessary personal details for FanDuel to verify your identity.
- Register your account using your email address and create a secure password.
- Deposit funds into your account using any of the available deposit methods.
- Place your initial bet on the Kentucky Derby, with a limit of $500.
If your first bet is successful, you’re welcome to withdraw your winnings and proceed happily. However, in the event that your first bet doesn’t win, FanDuel Racing will add bonus bets to your account, matching the amount of your original wager.
Why can you bet on the Kentucky Derby in Florida?
Horse racing operates under a system known as pari-mutuel betting. In this setup, horse racing bettors wager against each other, whereas in traditional sports betting bettors compete against the house.
In contrast, sports betting often involves oddsmakers and sportsbooks setting fixed odds and accepting bets based on their own assessments. This can lead to situations where the house stands to win or lose significant amounts of money based on the outcome. However, such one-sided actions are not possible in horse racing, where the odds are continually adjusting and the house earns a consistent cut regardless of the race’s outcome. This setup theoretically mitigates any potential for dubious activities or manipulation.
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