Kentucky Derby continues to set wagering records as gambling on horse racing declines

Monday, April 7, 2025 3:25 PM
  • Payton Titus, Louisville Courier Journal

In 1985, Marshall Gramm was 12 years old — still 11 on Kentucky Derby Day.

He sat in his childhood home in Washington, D.C., admiring the majesty of all 13 horses as they sauntered down the track for the post parade. Pastel dresses, sports coats and grandiose hats peaked through the procession on ABC’s live broadcast. Chief’s Crown, whose lofty lineage included Secretariat and Northern Dancer, was the favorite that year.

But second favorite Spend a Buck burst out to the lead. First by about 1 length. Then 6. And finally finishing 5 ¼ lengths ahead of the rest.

“Derby was a spectacle,” Gramm said, reminiscing on his earliest memories of the first Saturday in May. “There’s nothing more exciting than a horse race. That’s what drew me into falling in love with racing.”