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Kentucky Derby odds 2016: Nyquist leads the field with Exaggerator climbing

Odds have shifted slightly since the morning line was announced on Wednesday night.

Despite drawing a less-than-ideal post position, Nyquist remains the favorite to win the 2016 Kentucky Derby on Saturday. He was given 3-1 morning line odds by oddsmaker Matt Battaglia, with Exaggerator in second at 8-1, and three colts (Creator, Gun Runner and Mohaymen) tied at 10-1. Mor Spirit follows at 12-1.

That's the way you typically see odds given. It's easy to understand. Bet a dollar on Nyquist to win, and you get your dollar back plus three more. You might also see it presented at +300. That's the same concept, really, but presented differently. Betting $100, you can win $300 plus your original bet. (If you see a negative sign before the number, that's how much you have to bet in order to win 100.)

Our friends at OddsShark note that the betting lines have moved slightly since opening. While Florida Derby winner Nyquist, remains at 3-1, Santa Anita Derby winner Exaggerator inched up to +750, or 15-2, to win, while Gun Runner dropped to +900, or 9-1.

Nyquist is trained by Doug O'Neill and jockeyed by Mario Gutierrez, who teamed up to win the 2012 Kentucky Derby with I'll Have Another. Although O'Neill hoped to be outside the speed horses, his colt will break from the 13th position, with the fast Danzing Candy on the far outside.

Exaggerator, from the family team of Hall of Fame jockey Kent Desormeaux and trainer Keith Desormeaux, drew the 11th position.

Creator, winner of the Arkansas Derby and trained by Steven Asmussen, fell to +1200, or 12-1, after receiving the third stall in the gate. It hasn't seen a winner since 1998.

Below are Kentucky Derby odds as of May 5, via OddsShark and Bovada.