Where to park at the Kentucky Derby

This is a question I see a lot on message boards. I've only parked at Papa John's Stadium which to me seems to be the cheapest and easiest option but I'll do my best to write about other options.
  
Self parking

The easiest way is to park at Papa John's Stadium for $15 and then either walk to Churchill Downs (15 minutes or so) or catch one of the shuttles they have running back and forth (another $15/person). It's an easy walk but I highly recommend wearing your comfy shoes and then slipping on your heels when you reach Churchill. The hardest part of the walk is the rather lengthy staircase you have to climb from the parking lot to Central Ave but then it's literally downhill from there. You'll pass people selling flip flops, beer or beads, at least two guys with bullhorns talking about Jesus (and at least two wiseguys heckling them), a carnival stand selling everything from funnel cakes to corn dogs, etc.

The first gate you'll come across is Gate 3 on 4th Street. This is where you want to enter if you are sitting in the infield and have a chair, blanket or tarp. The entrance will take you right to the infield. If you have grandstand tickets, keep walking down Central Ave and enter through Gate 1. Blankets and tarps are allowed but not chairs. If you have reserved clubhouse seats, Gate 10 is apparently the place you want to go. No chairs, blankets or tarps are allowing through Gate 10.
Churchill Downs is selling parking passes too. Passes are good for both Oaks and Derby. $300 will get you into lot 2B and $95 will get you into lots 15/16.
Here's a map I made featuring parking lots and gates; parking lots are red markers and gates are green. 


Residents near Churchill Downs apparently charge people to park on their lawns but I haven't seen this in action and I have no idea what they charge. I honestly think parking at Papa John's Stadium is the way to go. It's cheap and the walk isn't bad at all. If you can't handle the walk, you can do the shuttles.

Valet parking

Another option is to do valet parking through Derby Experiences. Their lot is 1.5 blocks from Churchill Downs. According to their website, they charge $325 per person. They're parking cars, not people so I'm not sure why it says per person. It looks like even after paying $325, you still have to walk 1.5 blocks. For that price, I want Zenyatta herself to carry me to the entrance of Churchill Downs and a shirtless Mike Smith to escort me to my seat.

Taxis

I've never used taxis but word on the street is getting taxi after the Derby is over is a 2-3 hour affair. After a long day on your feet, it's not something I'd want to do. A friend of mine once stayed in Sellersburg, IN and found a local to drive him back and forth. I assume the front desk clerk recommended someone to drive them. The driver dropped them off as close as road closures allowed and they had a designated pick up time and place. That sounds a lot more convenient than waiting in the taxi line for 2 hours. I'd try this instead before doing a taxi. It might be something you can use CraigsList for? I'll check when the Derby gets closer.

As usual, if you have any other ideas that I haven't listed, let me know!

Where to stay for the Kentucky Derby

Hotels should be ashamed of the prices they charge for rooms during the Kentucky Derby. The Galt House Hotel in downtown Louisville usually charges anywhere from $90-200/night but Derby weekend, they ask (and apparently get!) $1200/night. And they probably have a three night minimum so you're looking at $4,000 for a hotel room for the weekend. You could buy a pretty decent used car for that price!

So where to stay without breaking the bank?

The farther you get from Louisville, the cheaper the rates get. Fort Knox is about 28 miles from Churchill Downs and you can find rooms for less than $150/night. Lexington (80 miles, give or take) has decent rates too. Open Google Maps, find Louisville, find cities along highways around Louisville, go to Kayak.com and start searching.

Or you could do what we do and "slum it" at one of the budget hotels in Louisville. Motel 6, Super 8, and Red Roof Inn all jack up their prices but it's not nearly as bad as Galt House, Sheraton, or Marriott. True, they don't have the greatest reviews on Trip Advisor. I'm not picky, though. The linens might not be 1000 thread count Egyptian cotton and the closest thing to room service is a drive thru down the block but I'd rather spend my money on gambling, juleps and a fabulous hat.

I fondly remember when I was watching the Belmont Stakes in 2010. I absentmindedly searched for hotels for the 2011 Kentucky Derby (yes, 11 months in advance) and found a room at Super 8 for $65/night. I quickly checked the cancellation policy and booked it. It turns out there was a change in management and no one was paying attention to Derby weekend rates. For 11 months, I periodically checked our reservation; I was terrified they were going to realize their mistake and cancel on me. Luckily, they didn't and that year we saved a fair amount of money!

Which brings me to my final tip, if you think you might go to the Derby, even if you don't have tickets, check hotel rates between May and October. At that time Derby tickets aren't on sale and you might find a loophole like we did.  Just be sure to check the reservation policy before you book anything.

Oh, one more! If you have a big group of people, check out Louisville CraigsList, HomeAway and VRBO. I've heard that people will rent out their entire houses for Derby weekend. This might be the way to go if you have a large group. A few other sites for home rentals: Kentucky Derby Home Rental and Event Home Leasing.