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Kintucky Derby 

(noun) competitive group incest, whereby points are awarded for engaging in sex acts with immediate family members. Rules are generally at the discretion of participants; infants and toddlers are usually considered "off-limits".
"While I am disappointed in the results of this year's Kintucky Derby, I am very proud of the effort my family team put forth - especially my sexy daughter! We'll get 'em next year!"
Kintucky Derby by cyclopath May 22, 2010

Kentucky Derby

When performing anal sex with your female partner in the doggy style position you, upon ejaculation produce such a large amount of semen that it races around to the vagina and impregnates the woman.
I was cornholing Sara and accidentally Gave her the Kentucky derby. Now I’ve gotta pay child support for the next 18 years!

Kentucky Derby

An amazing party that consists of horse racing, gambling, beer drinking, and tit showing. One of the best parties in the country.
"Damn man, I won $500 at the Kentucky Derby this year and saw at least 80 sets of tits!"
Kentucky Derby by hexum August 1, 2005

Kentucky Derby

When perfoming sex in the doggy style position, begin to pull on the mate's hair. When the time is right, yank a sufficient amount of hair out and begin to intertwine and create a rope. Stick this in her mouth, as if it were a reign. Use this to maneuver and ride your partner around the track of sex.
This piece of hair must be from last night's Kentucky Derby.

Kentucky Derby

A stand-up shitting contest with a photo finish (to avoid disputes, of course). Two or more individuals partake in a standing defecation where winners are determined by the longest unbroken "tail" at any given point.
I heard the DC Talk roadies used to crunk up the groupies and hold Kentucky Derbys to decide which ones got to hang with the band.

kentucky derby

Sex lasting as long as The Kentucky Derby (approximately two mintues).
"Me and the 'ol lady did The Kentucky Derby last night."

Kentucky Derby

In a college setting, when two couples compete in having sex in the same room. The bed must rock like you're riding a horse. The couple that finishes first raises an arm to signal that they have "finished."
"Hey man! Who won the Kentucky Derby last night?"

"It was close, but I beat my roommate by like 2 seconds!"