Do doubt it has gotten expensive. Hotels want a 3 night stay so if you want to cut the price a bit, look to stay in Shepardsville, KY or Jeffersonville, IN. Try to use your hotel points. Horseshoe casino is own by Harrah\'s, maybe your player card would help reduce the $500 a night.
FYI, some hotels have contracts for people to sign in advance with 50% payment on a particular date, many will appear sold out on line but may have rooms from non payment (bad credit numbers). So call the hotels direct, some will have tickets at a additional fee.
Tickets are sold out and all season boxes appear to be gone as well. Try buying tickets on the day of the race, they will be less expensive than buying them on the internet, but you probably won\'t get a particular section. FYI, many people have trouble unloading their Oaks tickets. You can find box seats for $100 and if the weather is slight bad (seems to rain on Oaks) you might get good seats for half that. Granted it\'s a gamble.
Best of luck and hope you make it here to the Ville.