Greetings!,

Are you a betting person? These days, it seems you have to work not to be so. Consider, if you will, all of the ads from in-person casinos, to online betting, to even the state supporting lotteries.

I don't mind a little wagering every now and then, but the important thing is to have control and discipline. Monies I wager are monies I fully expect to lose. I see the wager as the price of entertainment I may get from my bet. (And usually the amount I wager would not buy a large salted caramel cold-brew at Starbucks.)

This past weekend, another major wagering sporting event took place - the Kentucky Derby. In case you missed it, Golden Tempo, a 23-1 long shot, won the 152nd Kentucky Derby on Saturday, May 2nd. According to USA Today, the winning share was a payout of $3.1 million from the $5 million purse.

At 23:1, a $2 bet would have paid you $48.24 if you placed it for Golden Tempo to win, $19.14 to Place (2nd) and $11.90 to Show (3rd place).

According to The Daily Racing Form (5/5/25), Americans wagered $234.4 million on the 2025 Kentucky Derby race alone (a new record), and it was the third straight year the number has climbed. Derby Day handled across the full card hit $349.0 million, and this is all money that rides on two minutes of horses running.

According to Statistica.com, legal gambling as a whole had a gross gaming revenue in the United States exceeded 70 billion U.S. dollars in 2025. Global gambling revenue passed $643 billion in 2025, with projections pointing to above $655 billion in 2026. 

(GamblingInsider.com, Feb, 2026)

I did not see the amount of prize money on these wagers. However, despite what the ads want us to believe, the gambling industry is not giving money away.

So if you wager, be careful. While you may win, the money you wager you should be able to afford to lose.

As always, thanks for reading.



Bernie & Chad