Millions Lost by Bettors After First-Place Finisher of Kentucky Derby Disqualified

The 2019 Kentucky Derby was somewhat of a fiasco. The race resulted in a disqualification for the first time ever, which cost bettors around $9 million. Maximum Security was the odds favorite to win the race at 9 to 2 and managed to cross the finish line in first place. However, the win was taken away after the horse was disqualified for interfering with other horses on the final turn of the event.

The win then went to Country Houes, which was the longshot to win the event. Bettors placed over $6.2 million on Maximum Security to win and payouts would have been in the $9 million range. Only around $520,000 was placed on Country House to win. One lucky bettor took a chance on the longshot and wagered $2,500 on Country House, managing to win $162,500 in the process.

The change in the winner was upsetting to bettors who placed wagers on Maximum Security and sportsbooks were hurt as well. Some finished the day in the hole due to the change. Overall, a total of $165.5 million was wagered on the Kentucky Derby, the most ever placed during the history of the event.

The owner of Maximum Security, Gary West, is not happy with the decision and requested to appeal the ruling by the racing commission. The request was denied and West has stated that the matter is not settled. According to recent reports, West has plans to file a lawsuit in the appropriate court and he has lawyers on retainer to help with the process.

The commission took around 22 minutes to make the decision to take the win from Maximum Security. Once the decision was announced by the commission no further comments were made. The stewards did not take any questions from the media nor have they said anything else on the matter.

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