How to Spot Live Longshots in the Kentucky Derby: Finding Value in the Odds

A live longshot is a horse with high odds but a real chance of winning or finishing strong. While most bettors focus on favorites, longshots can bring significant value to those who can spot them. Finding these hidden contenders requires understanding odds, race conditions, and key performance indicators.

Few events in horse racing create as much excitement as the Kentucky Derby, where surprises happen almost every year. The race’s unpredictable nature makes longshots thrilling to watch, and sometimes they even pull off shocking upsets. Bettors who recognize overlooked talent before the race begins can take advantage of generous payouts.

Understanding Longshot Odds

Longshots are horses that sportsbooks and the public consider unlikely to win, so their odds are higher. However, high odds don’t always mean a horse has no chance. Some longshots are overlooked due to poor recent finishes, bad post positions in previous races, or simply because favorites are drawing all the betting attention.

Betting markets shift based on how the public places wagers. If most bets land on one or two favorites, other horses will push their odds higher—even if they have a reasonable shot at finishing strong. This creates opportunities for sharp bettors who understand the real value behind the numbers.

Advanced platforms now offer more tools to evaluate longshots. 2025 betting with FanDuel gives bettors access to deeper analytics, allowing them to identify horses flying under the radar. Instead of relying solely on odds movement, analyzing performance data can reveal longshots that are stronger contenders than the public realizes.

Key Factors to Identify a Live Longshot

Horse trailing in race
Credit: ChicagoPhotographer / bigstock

Not all longshots are created equal—some have a real shot at winning, while others are simply outmatched. Identifying a true contender requires looking beyond the odds and analyzing specific factors that can signal a horse is primed for an upset.

Patterns in Recent Performances

Looking beyond a horse’s finishing position in past races can provide valuable insights. A longshot may have placed poorly in its last few starts, but those results don’t always tell the whole story. Studying pace figures, closing speed, and competition level can highlight improving horses, even if their past race results seem unimpressive.

A horse that consistently finishes strong but hasn’t had the proper setup to win could be one to watch. Races where a horse closed the gap late but ran out of track could indicate that a longer distance, such as the Kentucky Derby’s 1 1/4 miles, will work in its favor.

Trainer and Jockey Influence

An experienced trainer can prepare a horse to peak at the right time. Some trainers specialize in conditioning long shots for major races, and their horses often perform better than expected. A sharp bettor will check a trainer’s Derby record, as some consistently get more out of their horses than others.

Jockeys also make a significant impact. A horse might be talented, but if an inexperienced rider is on board, it could struggle under the pressure of a 20-horse field. Skilled jockeys with Derby experience understand how to navigate traffic, time a horse’s move perfectly, and position themselves for a late charge.

Impact of Track Conditions and Distance

Churchill downs in rain
Churchill Downs in the rain (Credit: alexeys / bigstock)

A horse’s past performances on similar track conditions can significantly indicate success. Some horses excel on dry, fast tracks, while others thrive in wet or muddy conditions. Weather on race day can significantly shift a horse’s chances, so reviewing historical performances in different conditions can help bettors adjust their expectations.

The Kentucky Derby’s distance of 1 1/4 miles is another factor that works against many horses. Some have never run this far, and their stamina is untested. Others might be bred for longer distances, making them strong closers when the field begins to tire. Watching how a horse finishes in previous races over shorter distances can indicate whether it has the endurance needed for the Derby.

Post Position Considerations

The starting gate position plays a role in race strategy, especially in a crowded field like the Derby. Inside posts (1-5) can cause traffic problems, forcing horses to fight for position early or get boxed in. Outside posts (16-20) require a decisive break from the gate to avoid getting left behind.

Historically, mid-range post positions (5-10) have been ideal because they allow a horse to settle into a good rhythm without getting squeezed. If a longshot draws a favorable post with a running style that complements its position, it could have a better chance than its odds suggest.

Using Odds and Betting Strategy to Find Value

Kentucky Derby horses and odds
Credit: ChicagoPhotographer / bigstock

Betting on longshots can be rewarding, but it requires an innovative approach. Instead of just picking a horse to win outright, consider alternative bets that increase payout chances.

  • Placing a bet on a longshot to finish in the top three (place or show) is often safer than a winning bet. These bets still offer solid payouts, significantly when a longshot outperforms expectations.
  • Exacta and trifecta bets, which require picking the top two or three finishers in order, can be lucrative if a longshot finishes in the mix. Pairing a longshot with a firm favorite in these bets can balance risk and reward.
  • Watching odds movement before the race can provide insights. If a longshot’s odds begin to shorten in the final hours, it could signal that sharp bettors or insiders have spotted something valuable.

Conclusion

Spotting a live longshot in the Kentucky Derby isn’t just about looking at high odds—it’s about recognizing hidden potential. The right combination of trainer, jockey, race conditions, and performance trends can reveal horses that are undervalued by the public.

Each year, at least one horse defies expectations, proving that longshots aren’t random surprises. Researching key factors and understanding what makes a genuine contender can help bettors turn long odds into significant opportunities.