The 2026 Breeders' Cup Betting Challenge and What to Know

As it is for the horses, so it is for the bettors.

Breeders’ Cup weekend has its own end-of-year championship for players over the two days of racing: the Breeders’ Cup Betting Challenge. Since 2009, punters have vied for their own rich title.

Players put up $10,000 to enter the tournament (unless they’ve won a qualifying contest and therefore had some or all of the entry fee covered). Of that, $2,500 goes into the prize pool, and the remaining $7,500 is available to use for bets over the two days.

The prizes available depend on how many people enter. Last year, there were a record 643 entries, and prizes were paid down to 25th place. 

Lexington financial planner Dave Smyth won 2025's BCBC tournament, finishing the day with betting earnings of $144,800 and a first prize of $463,000.

The good news for TwinSpires players is that you can take part in the Breeders’ Cup Betting Challenge via TwinSpires. Last year’s leading TwinSpires player in the BCBC, Dean Maliza, finished 11th overall with betting earnings of $70,780, earning a prize on top of that of about $32,000.

This year, online entries close at midnight on Wednesday, Oct. 26, and as part of this, TwinSpires has a 4% cash back offer. Under this deal, if you opt in, you will receive 4% of your cash back ($400) on entries purchased through TwinSpires if you have previously competed in any BCBC qualifier hosted by TwinSpires or any other operator. Players must submit proof of entry into a BCBC qualifier. Details of this offer are available here.

Contestants can earn money across all 22 races on the two Breeders’ Cup days. They can make win, place, show, exacta, trifecta, and daily double wagers only; bets on special two-day doubles and special Distaff/Classic doubles are not permitted as part of the tournament. The top 15 finishers also earn a place in next March's National Horseplayers Championship.

Bettors must wager a minimum of $7,500 over the two days – including bets of at least $600 on three of the five Breeders’ Cup races on Future Stars Friday, and bets of at least $600 on at least seven of the nine Breeders’ Cup races on Championship Saturday – or face penalties or disqualification from the tournament.

Strategies will vary, but here are some key points to consider when competing in the Breeders’ Cup Betting Challenge.

1. The key race is ultimately the final one: Last year’s winner, Dave Smyth, was in 45th place heading into the final race with a score of 19,000. He won by putting all his remaining money on daily doubles on the final two races, the Dirt Mile and the Filly & Mare Turf. His bravery paid off when his Nysos-Gezora double came in; his $8000 bet returned $144,800, catapulting him into first place. As in most Breeders’ Cup years, this year's final race is the Classic. Ultimately, the most important thing going into this race is to still be in with a chance.
2. Don’t ignore the non-Breeders’ Cup races: Though it’s not compulsory to bet on them, the eight non-Breeders’ Cup races are all in play for this event, so there’s potential to get a jump on the competition by scoring some wins in these races.
3. Keep an eye on the barrier draw: These can potentially turn horses you might have planned to rely on as bankers for exotic bets into non-bankers. Inside draws can make it more likely for horses without early speed to encounter traffic difficulties, while outside draws can result in horses covering extra ground, which can be difficult to overcome in turf races in particular. The one advantage for players is that horses with unfavorable draws may start at better odds.
4. Study more than just the form of foreign horses: Foreign horses have a strong record in Breeders’ Cup turf races in particular, but it isn’t always the biggest names that succeed. A few key things to look at. Is this their main target or an afterthought? Does their trainer or jockey have a strong Breeders’ Cup history? And have they shown the ability to deal with traffic issues they are likely to face on a U.S. turf course?
5. Statistics are meaningful: Study the records at Keeneland of jockeys and trainers, as well as barrier success and racing pattern statistics for the turf and dirt courses. Don’t forget some horses can have a particular liking for certain tracks; this year, the clearest example is Further Ado, whose two races at Keeneland have produced performances arguably much better than anything he’s managed away from Keeneland. It’s up to you to decide whether that’s coincidence or something else.
6. Stick with punting strategies that work for you: Unless you’ve done a stack of research that clearly suggests a strategy change is worthwhile, your best chance of profitability will come from following betting patterns that have worked for you in the past.

As mentioned before, online entries to the Breeders’ Cup Betting Challenge close at midnight ET on Wednesday, Oct. 26. Good luck!