Ready to place your bets for the Kentucky Derby?Here's a one-stop shop for everything you need to know.Where to betYou can bet in person at the track, or online through TwinSpires.com. You can also bet on sports betting websites like FanDuel Racing and 1/ST BET.FanDuel Racing promo: Sign up and make your first bet of at least $5, get a free $25 to bet with, win or lose.1/ST BET promo: Sign up and get a $25 Bonus for every $100 you bet over your first 60 days, up to a max bonus of $250. In-person bettingChurchill Downs has windows and online kiosks.IMPORTANT: You'll need cash for betting at the track.If going to the window, you'll tell the person there which race, type of bet, how much and which horses (numbers, not names).Example: "Race 2; $2; exacta box; horses 3, 4, 5, 6" Try an advanced bet You can choose to just bet on a winner. Or you can choose win, place or show. The better your odds of winning are, the less it'll pay when you win."Exotic" bets can pay more, but they're harder to hit. Here are some examples.An exacta predicts the top two finishers in a race and costs at least a dollar.A box (the numbers in either order) costs at least $2, etc. The more combinations of numbers, the cost jumps exponentially (a three horse exacta box for a dollar is $6 in total).A triple predicts the top 3 finishers in a race, but can cost as little as 50 cents. A three horse triple box for 50 cents is $3. That's a deal!A superfecta predicts the top four finishers in a race. Those cost a dollar each for Oaks and Derby days, so a four-horse superfecta box is $24. But they can pay a lot of money.There are also pick 3’s, 4’s, 5’s, 6’s, which means correctly predicting the winners of consecutive races based on which wager you pick.