Lucky's loses money for first time since offering Derby futures

May 8, 2012 3:00 AM

Lucky’s has one of the biggest Kentucky Derby future books in Las Vegas. Every year, odds go up on over 200 horses to win the Derby.

The Lucky’s books open before the Breeders’ Cup, keep adding horses, and take bets in the futures until a couple days before the race.

One of the Lucky’s sports books is in Primm, the border town on I-15 with California and the closest sports book to Santa Anita and Hollywood Park racetracks.

Back in early February, before he had raced this year, Lucky’s took a load of action on I’ll Have Another at odds of up to 200-1. There were a large number of bets, all within a few minutes of each other. Some were large, others quite small, but all on the same horse.

Basically, it seemed like the whole barn got down on the horse. Even after the odds were lowered, they kept betting. And when the odds were again reduced, they kept betting. And when Lucky’s lowered the odds one final time, they still kept betting.

Saturday revealed why. For the first time since Lucky’s started offering Derby futures, the company lost money.