In preparation for the milestone 150th edition of the Kentucky Derby scheduled for May 4th, Churchill Downs has decided to elevate the purse to a whopping $5 million. The announcement, made on Wednesday, indicates a significant boost of $2 million. As part of the distribution, the victor of this year's 1 1/4-mile race will be awarded an impressive $3.1 million. Subsequently, the second-place finisher will secure $1 million, while the third position comes with a prize of $500,000. Those who secure the fourth and fifth positions will respectively receive $250,000 and $150,000.

In addition to the Kentucky Derby purse enhancement, there's an uplift for the Kentucky Oaks, a race for 3-year-old fillies held on Derby eve. The Kentucky Oaks purse is now set at $1.5 million, marking a notable increase of $250,000.

Churchill Downs' upcoming spring meet is set to showcase 50 stakes races, collectively valued at $25.6 million. This represents a substantial surge of $5.1 million or a 25% increment compared to last year's stakes lineup, which totaled $20.5 million.

“These record purse increases are a symbol of the health of horse racing in Kentucky,” said Bill Carstanjen, CEO of Churchill Downs Inc.

Churchill Downs managed to implement these increases by investing in historical horse racing, a form of electronic gambling. This innovative approach enhances the financial support for prize money. Historical horse racing involves electronic terminals resembling slot machines, enabling players to place bets on replays of previously conducted horse races.

Darren Rogers, the Senior Director of Communications at Churchill Downs, provided a glimpse of what fans can anticipate as they approach the monumental anniversary.

“It’s quite the milestone,” Rogers said. “This is a big celebration.”

Rogers mentioned that numerous special events and surprises are in store for this year, and details will be gradually unveiled. Among the ongoing initiatives is the My Derby Memory Contest being organized by Churchill Downs.

Prepare to ignite the excitement with your Derby memories! Share your most cherished moment on social media using #MyDerbyMemory, and let the Churchill Downs marketing team sift through the tales. Once we've narrowed it down to the top 10, it's your turn to join the voting frenzy. The fortunate winner gets the ultimate prize – a "Derby of a lifetime" experience! So, start sharing those unforgettable moments, and let the excitement for the grand prize begin!  #DerbyFever

“This is going to be the most transformational project,” Rogers said. “We’re nearing the end of our two-year project of rebuilding the paddock. It is absolutely fabulous.”

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