This years Kentucky Derby is Saturday, May 4th. It is the 150th anniversary for the landmark event. 

So it stands to reason that this year’s milestone race will be the richest in the history of America’s greatest race.

The 2024 Kentucky Derby purse has been elevated to a guaranteed $5 million.

The substantial $2 million increase to the 1 ¼-mile race for for 3-year-olds highlights a record-setting, 50-race stakes schedule cumulatively worth $25.6 million for the Churchill Downs 2024 Spring Meet, which runs from April 27-June 30.

Prize money for the stakes schedule increased 25%, or $5.1 million, from last year’s $20.5 million thanks to the Churchill Downs Inc. investment into historical horse racing, which supercharges funding for purses.  

With the record $5 million dollar in prize money now guaranteed for the Kentucky Derby, the Winner will receive a $3.1 million payday, the event’s highly sought-after gold trophy, and possibly millions more as a stallion after retirement from racing.

Also, $1 million will be awarded to the runner-up, $500,000 to third, $250,000 to fourth and $150,000 to fifth.

The Kentucky Derby purse had been worth $3 million since 2019, and was $2 million from 2005 to 2018 and $1 million from 1996 through 2004.

The Kentucky Oaks – the sister race of the Derby staged one day prior on Friday, May 3 – remains the nation’s most lucrative race for 3-year-old fillies at $1.5 million.

The 1 1/8-mile It had been worth $1.25 million since 2019, and was $1 million from 2011 to 2018 and $500,000 from 1996 through 2010.

And Hey, that’s a lot of hay !