TwinSpires.com

What TwinSpires.com does

TwinSpires.com is the online advance-deposit wagering (ADW) platform for horse racing operated by Churchill Downs Incorporated (NASDAQ: CHDN), the parent company that owns Churchill Downs Racetrack and serves as the official home of the Kentucky Derby since 1875. The platform enables users to deposit funds and place pari-mutuel wagers on horse races across more than 300 thoroughbred, harness, and quarter horse tracks in the United States and internationally, accessible through a web platform, iOS/Android mobile apps, and phone wagering. TwinSpires serves both casual horse racing fans and serious handicappers through a freemium model that includes free past performances conditioned on wagering activity, paid premium handicapping products powered by exclusive Brisnet data, tiered loyalty rewards (TSC Elite), and competitive tournament circuits (KDBC, BCBC, NHC qualifiers).

The platform's technology stack combines live track video signals, real-time odds, conditional wagering and wager cancellation tools, and customizable program views for handicapping. In April 2026, Churchill Downs Technology Initiatives launched Paddock PRO, an agentic AI solution built on Amazon Bedrock (Agents, Knowledge Bases, and action groups) that processes over 500 racing statistics to deliver personalized wagering recommendations through a conversational interface. TwinSpires also powers horse racing wagering for DraftKings Racing through a white-label integration launched April 27, 2026 across nine states, allowing DraftKings Sportsbook users to access pari-mutuel pools without separate accounts.

TwinSpires generates revenue primarily through a take-rate on pari-mutuel wagering volume, supplemented by paid premium handicapping products (Ultimate Past Performances, Brisnet selection sheets) and tournament entry fees. Specific take-rate percentages are not publicly disclosed, but scale signals include $24 million processed through TwinSpires on Kentucky Oaks day 2026 (up 24% year-over-year) as part of a record $487 million all-sources Derby Week 2026 handle for parent CDI. Standalone financial reporting is not provided; the platform operates as a wholly-owned subsidiary of Churchill Downs Incorporated and benefits from the parent's 148-year brand heritage, federal preemption protections confirmed by the 6th Circuit in December 2025, and integration with CDI-owned race tracks across multiple states.

Name

TwinSpires.com

Legal name

TwinSpires

Website

https://twinspires.com

Company type

Private

Founded year

2026

Operating status

Operating

Headcount range

1–10 employees

Short description

TwinSpires.com is the online advance-deposit wagering platform for horse racing operated by Churchill Downs Incorporated, enabling pari-mutuel betting on 300+ tracks worldwide for individual bettors ranging from casual fans to serious handicappers, with exclusive Brisnet data integration and the new Paddock PRO AI tool.

Ownership category

akta.pro rank

Product category

Online Horse Racing Wagering

NAICS

Gambling Industries (7132)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Online Horse Racing Betting (Advance Deposit Wagering/ADW) (MPAEADAD)

akta.pro secondary industries

Pari-Mutuel Wagering Operators (Totalisators/Tote) (MPAEADAB), Horse Racing Media, Data & Handicapping Content (MPAEADAF)

Keywords

• Horse racing betting
• Advance deposit wagering
• Pari-mutuel wagering
• Online racing platform
• Handicapping data services

Headquarters

HQ city

Lexington

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Others

Revenue model

1. Advance-Deposit Wagering (ADW): Users deposit funds in advance and place wagers on horse races from over 300 tracks worldwide. The platform earns a take-rate on pari-mutuel wagers placed.
2. Premium Handicapping Products: Ultimate Past Performances and Brisnet selection sheets available for purchase, with free access when users place wagers on the corresponding race card.
3. Live Track Video Signals: Real-time streaming video of horse races from tracks worldwide, integrated into the wagering platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

TwinSpires.com is an online advance-deposit wagering (ADW) platform for horse racing that enables users to place pari-mutuel bets on races at over 300 thoroughbred, harness, and quarter horse tracks across the United States and internationally. The platform provides web, mobile, and phone-based wagering experiences, live streaming race video, and integrated handicapping data and analysis tools. It operates as a wholly-owned subsidiary of Churchill Downs Incorporated and serves as the official online wagering partner of the Kentucky Derby.

Product overview

TwinSpires is a comprehensive online horse racing wagering platform operated by Churchill Downs Incorporated, offering advance-deposit wagering (ADW) for horse racing across 300+ U.S. and international tracks. The platform operates as a unified system combining a core betting platform with multiple integrated modules including TwinSpires Mobile App for on-the-go wagering, TwinSpires Tournaments for competitive play (KDBC, BCBC, NHC), Free PPs powered by Brisnet.com for handicapping data, TwinSpires Betting Tools for advanced wagering interfaces, TSC Elite Rewards Program for player incentives, TwinSpires Edge for editorial content, Training to Win for education, and the AI-powered Paddock PRO for personalized wagering recommendations. The ecosystem is anchored by the official relationship with the Kentucky Derby and Churchill Downs.

Differentiator

Problem solved

Functional benefit

Brands

• TSC Elite: The rewards program for TwinSpires offering points for wagering, VIP tiers (Bronze, Silver, Gold, Platinum), and monthly reward multipliers based on wagering volume.
• Paddock PRO
• TwinSpires Mobile

Products and services

• TwinSpires Horse Racing Betting Platform Core online advance-deposit wagering (ADW) platform for horse racing, offering legal online betting, live track video signals, mobile and desktop wagering experiences, and access to over 300 U.S. and international thoroughbred, harness, and quarter horse race tracks for individual horse racing fans and bettors.
• TwinSpires Mobile App Mobile wagering application for iPhone, iPad, and Android smartphone/tablet devices that provides full-access pari-mutuel wagering including live racing video, real-time racing information, program changes, results, and account management for individual horse racing bettors on the go.
• TwinSpires Tournaments Horse racing tournament platform featuring the Kentucky Derby Betting Challenge (KDBC), Breeders' Cup Betting Challenge (BCBC), National Horseplayers Championship (NHC) qualifiers, and TwinSpires Tour events, designed for competitive horse racing bettors seeking tournament-format play.
• Premium Handicapping Products Paid handicapping data products including Ultimate Past Performances with BRIS Class, Pace, and Speed ratings, selection sheets (Winner's Choice, Insider Picks & Power Plays), handicapping software, and real-time online odds. Free Past Performances are available when users place a wager on the corresponding race card. Targeted at serious horse racing handicappers seeking comprehensive data analysis.

Quantifiable outcome

• Record $487 million all-sources handle for Derby Week 2026 (up 3%)
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Amazon Web Services (AWS) / Amazon BedrockcoreTechnology or Integration · 30 April 2026Churchill Downs Technology Initiatives launched Paddock PRO, an agentic AI solution built on Amazon Bedrock, for the TwinSpires platform ahead of the 2026 Kentucky Derby. The tool provides real-time statistics, track conditions, pedigree data, and wagering recommendations using Amazon Bedrock Agents, Knowledge Bases, and action groups.
• DraftKings RacingcoreGTM or Marketing Partner · 27 April 2026DraftKings launched its horse racing product in nine states on April 27, 2026, integrating TwinSpires-powered pari-mutuel wagering into the main DraftKings Sportsbook app. This partnership enables DraftKings' tens of millions of existing sports betting users to access horse racing without separate downloads or accounts, representing a major distribution expansion for TwinSpires.
• Michigan Gaming Control Board (Legal Dispute)minorOthersTwinSpires has been involved in a year-long federal lawsuit against Michigan over state licensing requirements for ADW providers. In December 2025, the U.S. Court of Appeals for the 6th Circuit ruled in TwinSpires' favor, preventing Michigan from enforcing a licensing requirement that would have forced ADW providers to partner with brick-and-mortar racetracks.

Scale indicators6 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• TVG: TVG is the largest direct competitor to TwinSpires in U.S. horse racing ADW, operated by FanDuel Group (Flutter Entertainment). It offers pari-mutuel wagering on U.S. and international tracks and shares the same ADW business model, customer base, and regulatory environment as TwinSpires.
• AmWager: AmWager is a smaller, independent ADW provider offering pari-mutuel wagering on U.S. harness and thoroughbred racing. It is comparable to TwinSpires in core product and target customer, though with narrower track coverage and brand reach.
• Xpressbet: Xpressbet is a competing ADW platform operated by 1/ST (The Stronach Group) offering pari-mutuel wagering on North American thoroughbred and harness racing. It competes head-to-head with TwinSpires on track coverage, take-rate, and major-event handle.
• 1/ST BET: 1/ST BET (Stronach Group) is an ADW platform closely related to Xpressbet that offers wagering on Stronach-affiliated tracks and international pools. It competes directly with TwinSpires for major-event handle and serious handicapper wallet share.
• NYRA Bets: NYRA Bets is the official ADW platform of the New York Racing Association, providing pari-mutuel wagering on NYRA tracks and partner simulcast feeds. It is a direct TwinSpires competitor with comparable handicapping tools and a regional track-anchored model.
• BetAmerica (Caesars): BetAmerica was a horse racing ADW platform now folded into Caesars' broader sportsbook offering. It competed directly with TwinSpires in ADW and remains a relevant comparable for ADW economics and customer acquisition benchmarks.

Broad incumbents

• FanDuel: FanDuel (Flutter Entertainment) is the largest U.S. online sportsbook and parent of TVG, TwinSpires' closest ADW competitor. FanDuel's sportsbook scale, marketing budget, and cross-sell to TVG racing make it a key broader-market incumbent shaping ADW competitive dynamics.
• DraftKings: DraftKings is a broad sports betting and DFS incumbent that, as of April 2026, integrates TwinSpires-powered pari-mutuel wagering into its sportsbook app. As a partner-distributor for racing and a direct competitor for overall betting wallet share, DraftKings shapes TwinSpires' distribution and competitive landscape.
• BetMGM: BetMGM is a major U.S. sportsbook (MGM Resorts / Entain joint venture) that offers horse racing wagering within its broader product suite. It competes with TwinSpires for overall sports betting wallet share and increasingly for racing-specific customers.
• Caesars Sportsbook: Caesars Sportsbook is a broad U.S. sports betting incumbent offering horse racing via its integrated platform (formerly BetAmerica). It is comparable to TwinSpires as a multi-channel racing and sportsbook operator with national reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Twinspires
• Xx.com/twinspires
• Instagraminstagram.com/twinspires
• YouTubeyoutube.com/TwinSpiresTV

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TwinSpires.com