[WD] The Derby Edition. And a lot about Mint Juleps🏇

How the Mint Julep has crossed an interesting milestone

Author

Whiskey Decision
May 04, 2024

If history is any indication, the 150th running of the Run for the Roses (a.k.a. Kentucky Derby) will see more than $190 million wagered on the 2 minute race. Our inside track tells us that the first horse to cross the finish line - wins it all. Ok, we know nothing about horse racing.

In today's dispatch, we're diving headfirst into:

  • Derby Days - the Kentucky Derby and Bourbon

  • Worthy Reads: Sampling some of the best from around the web

  • Rewind: Some of our most popular Instagram posts from last week

  • Cocktail: We had to do the classic Mint Julep for Derby Day

Wait, a mint julep costs how much?

The Kentucky Derby. It's a $400 million party, a two-week celebration of the finest horses, the most extravagant hats, and of course, the finest bourbon this side of the Mississippi. It's a tradition that's been going strong for over 150 years, and it shows no signs of slowing down.

But to truly understand the soul of the Kentucky Derby, you must journey back to the days when the bourbon barons reigned supreme. Men like Dr. James Crow and James Pepper, titans of the whiskey trade, who rewrote the rules and set the stage for greatness.

Dr. Crow, the alchemist, the sage of the sour mash, whose technique transformed the very essence of bourbon. And Pepper, the showman, the master of the grand gesture, who made Old Crow a star from the ballrooms of New York to the ends of the earth. Matt from Bourdon Vench has a great write up on the four whiskies that impacted the Derby. And for a more history based approach Fred Minnick’s 2018 article is a great read.

And along the way, they helped to shape the Kentucky Derby into the spectacle it is today. Back in those early days, the Derby wasn't just a horse race. It was a social event, a chance for the bourbon aristocracy to see and be seen. They'd roll up to Churchill Downs in their finest carriages, decked out in silk and linen, ready to watch their thoroughbreds thunder down the track.

Let's talk numbers. The Kentucky Distillers Association says bourbon pours $9 billion into the state's economy every year, supporting over 22,500 jobs. And the Derby itself? It's a cash cow, generating over $400 million in economic impact each year. And the purse (a fancy term for total prize money) has grown by 66% since last year, to $5 million - netting the winner a $3.1 million dollar payday. Not bad for a two minute sprint.

And the drinks? Over 120,000 mint juleps served over the two-day event. A tradition that dates back to the 1938, where it was named as the official drink of the Kentucky Derby. And in 2024, this marks the first time that the concession prices have reached the levels of entire bottles of ready-to-drink cocktails by Old Forester ($22). Ok, maybe it is a bit about the money. And while you can’t get a Woodford Reserve Mint Julep (that bourbon is saved for the Spires cocktail). You can get the official Mint Julep with Old Forester, the official drink of the Kentucky Derby since 2015. Prior to this it was Yum Brands (owner of KFC, Pizza Hut, and Taco Bell) who owned the rights. Cause when you think of horse racing you think fast food? We still don’t know who signed off on that idea.

And let's not forget about the big players. Woodford Reserve, the official bourbon of the Derby since 1999. They've claimed double-digit growth every year since they signed on, and it's no wonder. Their $1,000 and $2,500 mint juleps are certainly helping to pad the bottom line, served in cups of silver and gold and adorned with 44 diamonds and sapphires. A far cry from the humble juleps sipped by Crow and Pepper, but a testament to the enduring power of the bourbon brand they helped create.

The Kentucky Derby, a glittering stage where the lines between the haves and have-nots blur like the finish line on a hot summer day. On one side, the bourbon aristocracy, with their thoroughbred steeds and their $15,000 bottle of liquid gold. On the other, the masses, drawn to the spectacle, the excitement, the chance to forget, if only for a moment, the realities of a world beyond the twin spires of Churchill Downs. And beyond the hallowed grounds, millions more, huddled around television screens, watching, waiting, dreaming of a day when they too might step into the winner's circle of life, if only for a fleeting moment.

📰 Worthy Whiskey News (a.k.a. our favorite reads)

  • Happen to be traveling to the UK but fear on missing out on the Buffalo Trace experience? Have no fear. BT is opening a “Distillery” in London.

  • Oh, so the $15,000 bottle of Woodford Reserve piqued your interest. Here is a great writeup about this limited edition bottle.

  • The Best Age-Statement Bourbon & American Whiskey From The San Francisco World Spirits Competition 2024

  • With the current Irish Whiskey boom, how do you keep growing? Stephen Teeling shares his approach.

  • Early retirements over a softening bourbon market. Heaven Hill reacts to the changing whiskey market.

📸Rewind: A selection of our most popular IG Posts

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🏇🏇Woodford Reserve Classic Mint Julep👒🌹

Throw on your seersucker jacket or fancy hat and watch the race with a little style. The classic mint julep - the official drink of the Kentucky Derby. We’re going for the ultra-premium edition you can’t get at Churchill Downs. And you don’t have to $22 per drink.

Source: KentuckyDerby.com

Ingredients

  • 2 oz. Woodford Reserve®

  • 1/2 oz. Simple Syrup

  • 3 Fresh Mint Leaves

  • Crushed Ice

Preparation

Rub the mint inside the glass. To the same glass, add simple syrup, bourbon and crushed ice. Stir. Garnish with more ice and fresh mint.

What a ride it's been this week, huh? Thanks for joining us on this journey through the world of good spirits at great prices.

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Thanks again for being here. Let's raise a glass to the week ahead.