2012 Kentucky Derby: I'll Have Another Wins Run For The Roses

I'll Have Another is your 2012 Kentucky Derby winner, besting the rest of the Churchill Downs field. Stay tuned for payouts, results analysis and video.

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74 Total Updates since April 25, 2012
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Triple Crown 2012: I'll Have Another Eyes Preakness After Kentucky Derby Win

Kentucky Derby winner I'll Have Another embarks on a journey to become the first Triple Crown winner in 34 years. Up next: The Preakness.

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Kentucky Derby 2012: Body Found At Churchill Downs, Police Investigating Homicide

The joyous wake of the 2012 Kentucky Derby has been shattered by the discovery of a body in the Churchill Downs barns, not far from where winner I'll Have Another was kept. According to a report from WAVE in Kentucky, Louisville police are investigating the death as a homicide.

Louisville Metro Police Department spokesperson Alicia Smiley says that a security guard discovered the body before 5 a.m. Sunday morning, and that it is of an unidentified Hispanic male. The LMPD has no suspects, but "suspects foul play," and has ruled the death a homicide. An autopsy on the body will be performed Monday.

Saturday's Derby was a record day for Churchill Downs, with the track setting records for attendance and amount wagered, and I'll Have Another electrified fans in attendance with a come-from-behind victory. Sunday's story is significantly grimmer.

For more on the Derby, check out SB Nation's 2012 Kentucky Derby StoryStream. SB Nation's horse racing blog And Down The Stretch They Come will have analysis of (winner's) Triple Crown chances, and has A Beginner's Guide To Following Horse Racing and a glossary of horse racing terms.

Like this post? You can like SB Nation on Facebook and follow us on Twitter.

Want more video on the Kentucky Derby? Check out SB Nation's Kentucky Derby playlist on YouTube.

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Kentucky Derby 2012: I'll Have Another Attempts To End Triple Crown Drought

Six months of preparation. Two minutes of racing. The winner of the Kentucky Derby secures a place in the annals of horse racing history, while those that finish behind can only wonder "what if"? The connections of 2012 Kentucky Derby winner I'll Have Another will bask in their Derby glory for a short amount of time and then begin preparations for the Preakness on May 19th, in an attempt to become the first horse since Affirmed in 1978 to win all three legs of the Triple Crown.

A horse gets one shot to win the biggest prize in American racing but their Derby fate is determined in a matter of seconds. A bad start, traffic problems, racing wide on the turns - any number of factors can render a top contender to also-ran status in the blink of an eye during the Kentucky Derby. The horses that are able to avoid or overcome those problems are the ones that get their picture taken at the end of the race.

Below is a look at the racing fate of several horses in this year's Derby, including the top 3 finishers: I'll Have Another, Bodemeister and Dullahan.

1st - I'll Have Another: In his previous races this spring, I'll Have Another raced right up near the lead in the early stages, never more than a couple of lengths behind the frontrunners. In the Derby, he was able to employ different tactics by sitting roughly six lengths behind the leaders in the opening six furlongs and commencing a run once the field hit the top of the stretch. The ability to run a different kind of race is what allowed I'll Have Another to win the 2012 Kentucky Derby.

If you're looking for reasons to be optimistic about I'll Have Another's chances to win the Triple Crown, there are several that you should take note of:

  • He's a lightly raced colt (just five starts prior to the Derby) which suggests that there is still room for improvement as he continues to mature.
  • His ability to successfully employ a different running style in the Derby makes him a much more dangerous colt to defeat. Versatile horses have much more room for error, allowing them to adapt to the conditions that the race throws at them.
  • There is a lot of good stamina in his pedigree, both from the sire Flower Alley, and the dam sire Arch; if he makes it to the Belmont, the distance shouldn't be a huge problem.

2nd - Bodemeister: While I'll Have Another receives the majority of the praise and press for winning the Derby, Bodemeister should receive additional praise just for the fact that he set some of the fastest fractions in the history of the Derby and only lost inside the final furlong. Bodemeister ran the opening six furlongs in 22.32, 45.39 and 1:09.80. If you don't follow horse racing, those numbers don't mean a lot to you, but here's a clue as to their importance: sprint races run over six furlongs (three-quarters of a mile) generally see a final time of 1:09 to 1:11, depending on the speed of the specific track.

Bodemeister's six furlong time of 1:09.80 would have been fast for a horse running in a sprint race. For a horse running in the mile and a quarter Kentucky Derby, it's considered suicidal. Yet Bodemeister not only set these torrid fractions, but he pulled away from the field at the top of the stretch and only surrendered the lead just before the wire. No matter how you look at Bodemeister's race, it's hard not to be extremely impressed with the performance of this Bob Baffert trainee.

3rd - Dullahan: Just like his race in the Breeders' Cup Juvenile last November, Dullahan got bumped around at the start. Unlike his juvenile race, he was able to overcome the early trouble to race in the middle of the pack, as opposed to finding himself at the rear.

Dullahan had a rough trip in the Derby, getting boxed in as the field moved on the turn and then fanning seven wide as he came into the stretch, but that is the life of a closer in the Kentucky Derby. What's impressive about this colt is that he's able to work his way through the trouble and still finish with a flurry in the final furlongs. Many horses would just quit if the race isn't going their way. Dullahan finds a way to still run a big race in spite of the traffic trouble he may encounter.

7th - Union Rags: Not much went right for the Michael Matz trainee in this year's Derby. Union Rags got bumped at the start and then was shuffled back towards the rear of the field in the opening furlongs. Jockey Julien Leparoux attempted to make a move heading into the far turn but he found considerable traffic trouble and was able to find clear racing room until it was too late to make any sort of meaningful challenge on the leaders. Union Rags trip in the Derby is Exhibit #1 as to why this is the toughest race in all of America to win. A horse that gets knocked around at the start, or is boxed in along the rail, has very little chance to run a big race.

5th - Creative Cause: The connections of Creative Cause are probably pretty happy with the way their colt ran in the Derby, despite the fact that he wasn't able to win. He raced mid-pack in the early stages, moved to within striking distance of the leaders while entering the final turn and finished strongly well in the final furlong to finish in fifth.

9th - Hansen: The Juvenile winner was able to stalk the early speed from his outside post position, but he faded in the stretch when he couldn't keep up with Bodemeister. Considering how fast the fractions were in the early stages, it's pretty remarkable that this colt finished in the top half of the field.

10th - Daddy Nose Best: There was a lot of talk about Daddy Nose Best prior to the Derby, with many handicappers extremely high on his chances after a couple of weeks of strong works at Churchill Downs. Like many horses in the field, he got shuffled around in the early stages of the race. He soon found clear racing room in the middle stages of the race andhe had every opportunity to mount a final charge over the last quarter mile. Instead, he faded to a non-threatening tenth.

12th - Alpha: In the days leading up to the Derby, I noted that Alpha tends to have trouble getting out of the gate cleanly, yet he's usually able to still run a big race despite his troubles at the start. In the Derby, Alpha once again failed to exit the gate cleanly but, unlike his previous races, he wasn't able to run much of a race after finally settling in; a disappointing effort from the Wood Memorial runner-up.

Below are the full pari-mutuel payouts, fractions, internal splits and complete running order for the 2012 Kentucky Derby.

WIN: 19-I'll Have Another ($32.60, $13.80, $9.00)
PLACE: 6-Bodemeister ($6.20, $5.60)
SHOW: 5-Dullahan ($7.20)

$2.00 Exacta: $306.50
$0.50 Trifecta: $766.40
$1.00 Superfecta: $48,046.40
$1.00 Double: $408.80
$1.00 Oaks/Derby Double: $365/6-
$0.50 Pick 3: $824.35
$0.50 Pick 4: $7,781.10
$0.50 Pick 5: $23,923.80
$2.00 Pick 6: $675,148.00

Fractions
1/4: 22.32
1/2: 45.39
3/4: 1:09.80
Mile: 1:35.19
Finish: 2:01.83

Internal Splits
1/4: 22.32
1/2: 23.97
3/4: 24.41
Mile: 25.39
Finish: 26.64

Full Order of finish:

1st: 19 - I'll Have Another
2nd: 6 - Bodemeister
3rd: 5-Dullahan
4th: 13-Went the Day Well
5th: 8-Creative Cause
6th: 20-Liaison
7th: 4-Union Rags
8th: 7-Rousing Sermon
9th: 14-Hansen
10th: 10-Daddy Nose Best
11th: 2-Optimizer
12th: 11-Alpha
13th: 16-El Padrino
14th: 17-Done Talking
15th: 18-Sabercat
16th: 15-Gemologist
17th: 9-Trinniberg
18th: 12-Prospective
19th: 3-Take Charge Indy
20th: 1-Daddy Long Legs

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Kentucky Derby Winner 2012: I'll Have Another Creates Huge Pick 6 Payout

The 2012 Kentucky Derby brought a huge payday to the Pick 6 play at Churchill Downs, thanks not only to the win of I'll Have Another in the Kentucky Derby (the 11th race of the day at Churchill), but a collection of upset wins. A $2 Pick 6 play that hit all six winners of today's races correctly will pay out $675,148.00 to any bettor lucky enough to hit it.

A Pick 6 play picks the winner of six races -- bets can start as cheap as $2, but bettors may pick as many horses as they'd like to win each race at a higher cost. I'll Have Another went off with 15-1 odds, far from the favorites Bodemeister (4-1) and Union Rags (5-1). Combined with the win of Little Mike, a a 12/1 winner in the G1-Woodford Turf Classic, the Pick 6 payout surged.

I'll Have Another's relatively long odds also made all the other 2012 Kentucky Derby payouts lucrative.

For more on the Derby, check out SB Nation's 2012 Kentucky Derby StoryStream. SB Nation's horse racing blog And Down The Stretch They Come will have analysis of I'll Have Another's Triple Crown chances, and has A Beginner's Guide To Following Horse Racing and a glossary of horse racing terms.

Like this post? You can like SB Nation on Facebook and follow us on Twitter.

Want more video on the Kentucky Derby? Check out SB Nation's Kentucky Derby playlist on YouTube.

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Kentucky Derby 2012 Payouts: I'll Have Another Triggers Huge Prices

I'll Have Another used the entire length of the Churchill Downs stretch to run down Bodemeister on the lead to win the 2012 Kentucky Derby at Churchill Downs. Bodemeister broke quickly from the gate and set very fast fractions, opened up by five lengths at the top of the stretch, but couldn't hold off I'll Have Another inside the final furlong.

I'll Have Another is a three-year-old son of Flower Alley out of an Arch mare (Arch's Gal Edity). He is trained by Doug O'Neill, ridden by Mario Gutierrez and owned by Reddam Racing. This is the first Kentucky Derby victory for both the trainer and jockey.

Horse Win Place Show
19-I'll Have Another $32.60 $13.80 $9.00
6-Bodemeister $6.20 $5.60
5-Dullahan $7.20
$2.00 Exacta $306.60
$1.00 Trifecta $766.40
$1.00 Superfecta $48,046.40
$1.00 Double $408.80
$0.50 Pick 3 $824.35
$0.50 Pick 4 $7,781.10
$0.50 Pick 5 $23,923.80
$2.00 Pick 6 $675,148.00


For more on the Derby, check out SB Nation's 2012 Kentucky Derby StoryStream. SB Nation's horse racing blog And Down The Stretch They Come will have analysis of I'll Have Another's Triple Crown chances, and has A Beginner's Guide To Following Horse Racing and a glossary of horse racing terms.

Like this post? You can like SB Nation on Facebook and follow us on Twitter.

Check out the SB Nation Channel on YouTube

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Kentucky Derby 2012 Video: I'll Have Another Passes Bodemeister

I'll Have Another made a late run to overtake Bodemeister to win the 138th running of the Kentucky Derby.

It was the first Kentucky Derby win for a horse starting from the 19th gate. Bodemeister, one of the pre-race favorites, looked strong early pulling out to a five-length lead but, as they came down the stretch, I'll Have Another came on strong to take the lead.

It was the first Kentucky Derby victory for I'll Have Another trainer Doug O'Neill and jockey Mario Gutierrez. In the video below you can see the late run that won the 2012 Kentucky Derby.

For more on the Derby, check out SB Nation's 2012 Kentucky Derby StoryStream. SB Nation's horse racing blog And Down The Stretch They Come will have analysis of I'll Have Another's Triple Crown chances, and has A Beginner's Guide To Following Horse Racing and a glossary of horse racing terms.

Like this post? You can like SB Nation on Facebook and follow us on Twitter.

Check out the SB Nation Channel on YouTube

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Kentucky Derby 2012 Winner: I'll Have Another Chases Down Bodemeister For Win

Entering the 2012 Kentucky Derby, Bodemeister and Union Rags — who went off at 4-1 and 5-1, respectively — were expected to duel for the win in the 128th Run for the Roses. But I'll Have Another, far less popular at at 15-1, closed hard in the final lengths to score an upset.

Bodemeister had the lead heading around the back stretch, setting an excellent pace, with Trinniberg and Hansen behind, and all three horses stayed near the front of the pack into the race's final furlongs, but I'll Have Another stalked Bodemeister and pipped him by half a length at the finish.

I'll Have Another will have a chance to continue the pursuit of the 2012 Triple Crown at the 2012 Preakness Stakes.

For more on the Derby, check out SB Nation's 2012 Kentucky Derby StoryStream. SB Nation's horse racing blog And Down The Stretch They Come will have analysis of I'll Have Another's Triple Crown chances, and has A Beginner's Guide To Following Horse Racing and a glossary of horse racing terms.

Like this post? You can like SB Nation on Facebook and follow us on Twitter.

Check out the SB Nation Channel on YouTube

Want more video on the Kentucky Derby? Check out SB Nation's Kentucky Derby playlist on YouTube.

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Kentucky Derby 2012: Potentially Massive Payout In The Pick 6

Update: Derby payouts are here.

The Pick 6 is one of the most difficult wagers to hit in all of horse racing. The bet, which costs a minimum of $2 to place, involves picking the winners of six consecutive races. Today at Churchill Downs, the Pick 6 ends with the 20-horse Kentucky Derby, adding even more difficulty to an already tough wager. Due to a couple of long-shot winners on the under card, including a 12/1 winner in the G1-Woodford Turf Classic, the potential payouts for the Pick 6 are quite large.

Below is a summary of the will-pays for today's $2 Pick 6 at Churchill Downs.

$2 Pick 6 Will-Pays
2/4/10/6/1 with:
# Horse Will-Pay
1 Daddy Long Legs $7,669.40
2 Optimizer $10,601.80
3 Take Charge Indy $3,466.00
4 Union Rags $225,049.20
5 Dullahan $1,350,296.20
6 Bodemeister $150,032.80
7 Rousing Sermon $8,192.40
8 Creative Cause $450,098.60
9 Trinniberg $9,011.60
10 Daddy Nose Best $1,350,296.20
11 Alpha $1,350,296.20
12 Prospective $9,011.60
13 Went The Day Well $1,350,296.20
14 Hansen $450,098.60
15 Gemologist $337,574.00
16 El Padrino $1,350,296.20
17 Done Talking $10,012.80
18 Sabercat $1,350,296.20
19 I'll Have Another $675,148.00
20 Liaison $7,836.20

The low payouts above represent a 5-of-6 scenario in which most of the pool carries over to the next day of racing at Churchill Downs.

Horseplayers can use as many horses as they want in each race but, the more horses you use, the more expensive your tickets becomes. It's not unusual for big-time Pick 6 players to spend more than $1,000 on a ticket, if they believe the payouts will be worth the investment.

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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Kentucky Derby 2012 Odds: Union Rags, Bodemeister Still The Favorites

After a morning's worth of money flooding in to bet on the 2012 Kentucky Derby, there's been little change in the core favorites. Union Rags is still a strong 9-2, with Bodemeister holding at 7-1 after moving down from 8-1 early in the day (the horse started the morning at 4-1), while Gemologist has slid from 6-1 to 8-1.

The influx of betting has even out the field somewhat -- a few of the larger longshots have dropped throughout the day, including Rousing Sermon (50-1 to 35-1), Done Talking (50-1 to 32-1) and Optimizer (50-1 to 35-1).

As a reminder, you can click here for live odds.

Daddy Long Legs 23-1
Optimizer 35-1
Take Charge Indy 10-1
Union Rags 9-2
Dullahan 10-1
Bodemeister 7-1
Rousing Sermon 36-1
Creative Cause 11-1
Trinniberg 39-1
Daddy Nose Best 12-1
Alpha 21-1
Prospective 56-1
Went the Day Well 26-1
Hansen 13-1
Gemologist 8-1
El Padrino 26-1
Done Talking 32-1
Sabercat 32-1
I'll Have Another 12-1
Liaison 51-1

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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Watch Kentucky Derby 2012 Online: Live Races Begin At 10:30 A.M. EDT

Update: Latest odds and results are here | Watch the 2012 Kentucky Derby again

Activities at the 2012 Kentucky Derby are set to get started at 10:30 a.m. EDT on Saturday, and although you can watch most of the races on various television networks, the 138th Run for the Roses can also be viewed live on your Internet-enabled device of choice. As with most online sports, there are a few official websites you can use to stream the races.

You can watch the 2012 Kentucky Derby live online by following this link. The first race begins at 10:30 a.m. EDT and can be seen here. You can also watch up to five races at once on the same screen live.

You can also view the main races live online from NBC by following this link, starting at 4:30 p.m. EDT.

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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Kentucky Derby 2012: Post Time, TV Coverage, Video And More

The contenders are ready for the 138th Run for the Roses, but the 2012 Kentucky Derby isn't the only big race at Churchill Downs on Saturday.

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2012 Kentucky Derby Odds: Union Rags Now Favored; Bodemeister Slips

The Kentucky Derby odds are changing, thanks to early action on the race that has rearranged the contenders. When the morning line was released, Bodemeister was a slim favorite, holding 4-1 odds to Union Rags' 9-2 odds. Now, Union Rags is favored in the race, and Bodemeister has fallen off considerably.

As of now, Bodemeister is in a group at 8-1, joined by Take Charge Indy -- formerly at 15-1 -- and Gemologist -- formerly at 6-1. Union Rags is at 6-1 now, the favorite as the race approaches.

As a reminder, here are the morning line odds. These were released at the same time as the draw:

Daddy Long Legs 30-1
Optimizer 50-1
Take Charge Indy 15-1
Union Rags 9-2
Dullahan 8-1
Bodemeister 4-1
Rousing Sermon 50-1
Creative Cause 12-1
Trinniberg 50-1
Daddy Nose Best 15-1
Alpha 15-1
Prospective 30-1
Went The Day Well 20-1
Hansen 10-1
Gemologist 6-1
El Padrino 20-1
Done Talking 50-1
Sabercat 30-1
I'll Have Another 12-1
Liaison 50-1

Now compare those to the latest odds and a few things emerge.

Daddy Long Legs 26-1
Optimizer 31-1
Take Charge Indy 8-1
Union Rags 6-1
Dullahan 10-1
Bodemeister 8-1
Rousing Sermon 19-1
Creative Cause 12-1
Trinniberg 41-1
Daddy Nose Best 14-1
Alpha 22-1
Prospective 69-1
Went The Day Well 20-1
Hansen 7-1
Gemologist 8-1
El Padrino 33-1
Done Talking 34-1
Sabercat 38-1
I'll Have Another 17-1
Liaison 60-1

It's worth noting these will change, perhaps drastically, as betting begins on Saturday. With action coming in heavy on race-day, it's likely everything goes out the window as the Kentucky Derby nears. But if you're looking for a value bet, Bodemeister has to be enticing right now.

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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2012 Kentucky Derby Betting Guide: How To Bet On The Horses

So, you watch this Kentucky Derby thing once a year, and it looks interesting and all. You are also known to place a bet once and a while, maybe when you're down in Vegas on a trip with the boys, girlfriend or wife. You're not averse to gambling, but you've never bet on a horse race in your life and the only thing you know is "Win, Place, Show".

You want to bet on the 2012 Kentucky Derby, or any other horse race? Below is everything you need to know but were afraid to ask.


Matt Gardner breaks down the field.

First things first, it's entirely legal to wager on horse racing through the internet in the United States; you don't have to be at the track, OTB or Vegas. I know, I know, there's that internet gaming act passed a decade or so ago that rained on the parade. Horse racing is an exception to that law and is a completely legal method of on-line gambling in this country. What's the catch? The state you live in must permit such wagering to take place, and not all do. Most states do allow on-line wagering on horses (called ADW - Advance Deposit Wagering) which can be done through a variety of companies - TwinSpires.com, TVG.com, Express Bet.com, and DRFBets, are just a few of the U.S.-based companies that are licensed to provide ADW services. If your state permits you to bet through an ADW, you are free to bet the ponies from the comfort of your own home on your computer or mobile device.

How do you know if your state allows you to bet through an ADW? Simply go to one of the licensed ADWs and try to sign-up; if you live in a state where it's illegal (like Hawai'I or Georgia), you won't be able to create an account. if you can, it's time to fund the account and get down to the business of playing the horses. If you can't ... well, call a friend who lives in a state that can.

Betting Terminology

Okay, with that little bit out of the way, let's take a look at the betting lingo and the types of wagers one can make on an equine athlete. Below is the smorgasbord of wagering opportunities offered by Churchill Downs on Derby Day 2012:

WIN: A bet on a horse to win (if you don't know this you probably shouldn't be betting)
PLACE: A bet on a horse to finish either 1st or 2nd.
SHOW: A bet on a horse to finish 1st, 2nd or 3rd.

Those are the standard bets that everybody is familiar with. They are simple, straight forward, it's easy to calculate the cost, and they are easy to make. Where things start to become more complicated is with what are known as the exotic bets. Below are the exotic wagers offered by Churchill Downs this weekend.

EXACTA: A bet picking the 1st and 2nd place finishers in a race.
TRIFECTA: A bet picking the 1st, 2nd and 3rd place finishers in a race.
SUPERFECTA: A bet picking the 1st, 2nd, 3rd, and 4th place finishers in a race.
DAILY DOUBLE: A bet picking the winners of two races, usually two consecutive races.
PICK 3: A bet picking the winners of three consecutive races.
PICK 4: A bet picking the winners of four consecutive races.
PICK 5: A bet picking the winners of five consecutive races.
PICK 6: A bet picking the winners of six consecutive races.

The Odds - How Much Will You Win

Betting on horses is done via pari-mutuel wagering, a system of wagering where each player is betting against other players, not the house. The track takes a percentage of the total pool (usually 15 to 20%) and the rest of the money is paid out to all players that hold the winning tickets. The odds represent what percentage of the total pool each horse is receiving. The total generally adds up to more than 100% because it includes the track take. Below is an odds-percentage conversion chart for typical odds in horse racing.

Odds

Win %

Odds

Win %

1/10

90.91%

4/1

20.00%

1/5

83.33%

9/2

18.19%

2/5

71.42%

5/1

16.67%

1/2

66.67%

6/1

14.29%

3/5

62.50%

7/1

12.50%

4/5

55.56%

8/1

11.11%

Even

50.00%

9/1

10.00%

6/5

45.45%

10/1

9.09%

7/5

41.67%

11/1

8.33%

3/2

40.00%

12/1

7.69%

8/5

38.46%

15/1

6.25%

9/5

35.71%

20/1

4.76%

2/1

33.33%

25/1

3.85%

5/2

28.57%

30/1

3.23%

3/1

25.00%

50/1

1.96%

7/2

22.22%

99/1

1.00%

To figure you how much you'll get paid if you hit your win bet, simply divide the numerator of the odds by the denominator, multiply that number by the amount bet, and then add the amount bet.

A $2 win bet on a horse at 4/1 odds:
4 x 2 + 2 = $10

A $10 win bet on a horse at 7/2 odds:
3.5 x 10 + 10: $45

Place and Show payouts are more difficult to calculate since tracks don't display the odds on those bets. Usually, they pay less than half what the winning odds play (unless the horse is a huge longshot and the favorite doesn't finish in the top three).

Figuring out the payouts on exotics are a mixed bag; tracks display the "Will Pays" for exactas and daily doubles, but you won't have a clue as to what your trifecta, superfecta, Pick 3, etc., will pay until the sequence is over. Generally speaking, trifectas and superfectas will return larger amounts, but be careful, playing all the favorites in a trifecta is likely going to return a small amount especially when compared to how much your bet cost. If you spend $120 on a superfecta box that includes a bunch of low priced horses, you're going to be very disappointed if it hits. The key to hitting larger scores is to find some longer priced horses to play along with shorter priced ones.

How Much Will It Cost? - Bet Calculation

Okay, so we've got all of these exotic bets where you're trying to pick the order of finish or the winners in multiple races. Many first time bettors think that to play a exacta (or tri or any other exotic) requires you to use just two (or three or four) horses in your play. You can select as many horses as you want but the more horses you select, the more expensive your ticket becomes. The first step in determining what a specific bet will cost is to know the minimum amount required for each bet. At Churchill Downs tomorrow, here are the minimum amounts required for each bet offered:

Win, Place, Show: $2
Exacta: $2 Straight; $1 Wheels and Boxes
Trifecta: $0.50
Superfecta: $1.00 on Derby Day (All other days the minimum is $0.10)
Daily Double: $1
Pick 3, Pick 4, Pick 5: $0.50
Pick 6: $2

Two additional exotic betting terms that are relevant to wager cost are "BOX" and "WHEEL", and they apply specifically to exactas, trifectas and superfectas.

A bet that is BOXED means that your selections can finish in any order. For example, say you like the #1, #2, and #3, you want to play them in an exacta but you don't know which one you want to pick on top (to win). You could "BOX" those three horses in an exacta and you would win if any of those three finish first and second.

A WHEEL (or PART WHEEL) is different than a box in that it involves selecting different horses in each position of the wager. For example, let's say you like the #1 to win, but think the #2, #3 and #4 might finish second. In that situation you would bet an exacta wheel where the bet would be set up to pay if the #1 wins and either 2-3-4 finish second. If any of 2-3-4 win and the #1 finishes 2nd, you would not win with that exacta wheel.

You might be thinking, "Why would anyone NOT box an exacta, trifecta, or super since my picks can finish in any order, while with a wheel there is less margin for error?" The short answer: because boxing a bet costs more.

Straight wagers are easy to calculate: a $20 win bet costs $20. No issue there.

A box bet is calculated by multiplying the bet amount by the total number of horses selected, and then multiplying that by the total number of horses selected, minus one. Or, stated another way:

Selections: 1-2-3-4-5 (five horses)
$1 Exacta Box Cost: $1 x 5 x 4: $20

Make sense? For trifecta and superfecta boxes you calculate the cost the same way but keep subtracting one from the total number of horses in each leg. For example:

Selections: 1-2-3-4-5
$1 Trifecta Box Cost: $1 x 5 x 4 x 3: $60

Selections: 1-2-3-4-5
$1 Superfecta Box Cost: $1 x 5 x 4 x 3 x 2: $120

You can see how the costs start to escalate in a box situation since you're playing every possible combination with those numbers.

With a WHEEL bet, the cost is kept down but you need to decide which horses you like in certain positions. Let's take the above situation again. Let's say you like the #1 and #2 to win, but think any of those five could finish 2nd. Here is how you would calculate that bet cost:

Selections: 1-2 to finish 1st, 1-2-3-4-5 finish 2nd
$1 Exacta Wheel Cost: $1 x 2 x 4: $8

Because you are using the 1 and 2 in both the win and place slots, you calculate the wager by multiplying the number of horses in the first leg by the number of horses in the second leg, minus one. If you excluded the 1 and 2 from the second position but still used five horses, the bet would calculate as below:

Selections: 1-2 to finish 1st, 3-4-5-6-7 to finish 2nd
Cost: $1 x 2 x 5: $10

Right away you can see that an exacta wheel bet costs about half as much as the box situation since you are playing less combinations. There's a higher risk, but the rewards (and profit margin) are better since you are not wasting money on combinations that you don't believe will come in.

(Side note: if you were at the track or an OTB and wanted to make either of those exacta bets in person, you would walk to the window and say: "Track Name, Race Number: $2 Exacta Box, 1-2-3-4-5" or "Track Name, Race Number: $2 Exacta, 1 and 2 with 1-2-3-4-5". Saying "with" is how you separate horses from the first, second, third or fourth positions to the clerk. And always check your ticket before you walk away.)

Calculating trifecta and superfecta wheels follows the same formula as the exacta bet above. However, if you want an easier way to calculate your wagers, you can find a variety of waging calculators on the web, including a nice one at WinningPonies.com.

So we've discussed the intra-race exotics (exacta, trifecta, superfecta), let's talk about the multi-race bets, which are some of the most popular bets at the track. A multi-race wager is any bet that involves betting on a series of races, rather than just one specific race. A Pick 4, where you try to pick the winners of four consecutive races, is a multi-race wager and can pay very nicely, depending on the odds of the horses that win during the sequence. As with all wagers, you can select as many horses as you want but the cost of your ticket increases with every horse added into the mix.

Let's say you are looking at a four race sequence where you like the following horses in each race:

Race 1: 1-2
Race 2: 1-2-3-4
Race 3: 1
Race 4: 1-2-3-4-5-6-7

To collect on a Pick 4 wager using the horses above, you would need at least one of your selections to win in each leg; pretty simple. Using only one horse in a specific race, as is done in the 3rd race in our example, is called "singling" a horse. Singles are important because they help to reduce the cost of your ticket.

Calculating the cost of a multi-race wager is easy: simply multiply the bet amount by the number of selections in each leg. Using our above example, that Pick 4 ticket would cost the following amount.

$0.50 Pick 4: $0.50 x 2 x 4 x 1 x 7: $28

The power of the "single" should be obvious; if we had selected two, three or four horses in that 3rd race, our ticket would have doubled, tripled or quadrupled in cost. It's not required that you use a single; if you have the money to spend and you want better coverage, spend away. But most players like to try and find one race where they have a prime single so they can use more horses in the races where things appear more wide-open.

Additionally, you don't have to play each wager to the minimum amount. Our Pick 4 example above could be played to a $1 base, or $2, or whatever you want. Of course, the higher the base amount, the more expensive your ticket becomes.

Selecting The Right Wager

If you're a little overwhelmed with the sheer amount of betting options you can take heart with the fact that you don't need to play them all. In fact, the best wagering strategy usually involves finding a solid win bet before doing anything else. If you can't figure out which horse is going to win a race, you probably shouldn't be diving into bets requiring you to also pick horses in 2nd, 3rd or 4th. But if you find a solid play for the win, then you can start to branch out into the more complicated wagers. Like poker, you need to go "all in" when you feel you have the advantage, not because you want the action.

Check out the SB Nation Channel on YouTube

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2012 Kentucky Derby: Picks And Predictions

The 2012 Kentucky Derby is Saturday. Our horse racing expert makes his picks and predictions for the race.

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Kentucky Oaks 2012: Preview And Picks

Grace Hall, On Fire Baby and Broadway's Alibi lead a fantastic betting field of 14 fillies in Friday's 2012 Kentucky Oaks.

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Bodemeister odds on favorite

With the 2012 Kentucky Derby post draw out of the way, the attention turns to the morning line odds. These are the odds set by the track, which will remain steady until race day. Once the books are open at Churchill Downs, the odds are subject to shift quickly, as action dictates the changes.

Until then, though, the morning line provides a window into which horses are favored, which may be good value bets and which are long-shots.

Here are the morning line odds.

Daddy Long Legs 30-1
Optimizer 50-1
Take Charge Indy 15-1
Union Rags 9-2
Dullahan 8-1
Bodemeister 4-1
Rousing Sermon 50-1
Creative Cause 12-1
Trinniberg 50-1
Daddy Nose Best 15-1
Alpha 15-1
Prospective 30-1
Went The Day Well 20-1
Hansen 10-1
Gemologist 6-1
El Padrino 20-1
Done Talking 50-1
Sabercat 30-1
I'll Have Another 12-1
Liaison 50-1

It's no surprise to see Bodemeister installed as the favorite, followed quickly by Union Rags. Those two will be starting two gates apart, with Union Rags in the No. 4 gate and Bodemeister in the No. 6 gate. Gemologist will be outside, and holds 6-1 odds. In between Union Rags and Bodemeister is another strong horse in Dullahan, who checks in at 8-1.

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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Kentucky Derby 2012 Post Positions Revealed During Ceremony At Churchill Downs

The post position draw is vital for the Kentucky Derby, with contenders chances partially dictated by where they will start the race on Saturday.

Draw on the rail and a horse risks being squeezed down the front stretch, losing position and having to back off going into the first turn. Draw too far outside and the race becomes that much longer, as everyone breaks for the rail early. Luck factors a bit into the equation at the Kentucky Derby, where a 20-horse field provides plenty of congestion on the track.

On Wednesday afternoon, the post positions for the 2012 Kentucky Derby were announced in a live show on NBC Sports Network. The draw is as follows:

1. Daddy Long Legs
2. Optimizer
3. Take Charge Indy
4. Union Rags
5. Dullahan
6. Bodemeister
7. Rousing Sermon
8. Creative Cause
9. Trinniberg
10. Daddy Nose Best
11. Alpha
12. Prospective
13. Went The Day Well
14. Hansen
15. Gemologist
16. El Padrino
17. Done Talking
18. Sabercat
19. I'll Have Another
20. Liaison

A few of the prominent horses to watch will be starting the the fourth, fifth and sixth gates. Dullahan, Bodemeister and Union Rags are all strong contenders, and will be running next to one another right out of the gates while also fighting for the rail.

We'll be back with further analysis of the post positions later.

For more on the world of horse racing, head to And Down The Stretch They Come. For more on the 2012 Kentucky Derby, keep it locked to this StoryStream.

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