Favorite Justify finishes first at Kentucky Derby

The mint julep is the official drink at the Kentucky Derby

The mint julep is the official drink at the Kentucky Derby

The Kentucky Derby takes place at the famous Churchill Downs Racetrack in Louisville, Ky.

Bet makers, too: Horse racing is the only sport that can be legally bet on in the USA, and casual and die-hard bettors wager enthusiastically.

Here's a breakdown of what you need to know about the favorites before placing your bets on this year's Kentucky Derby.

There will also be pre-coverage of the Derby by NBC starting at around 2:30 p.m. ET, and coverage should run until around 7 p.m. ET. Check back frequently for news and updates. Apollo was the last to do it in 1882. That horse, Hofburg, like Justify has only ran three races before. Mendelssohn was the second choice in the morning-line odds behind Justify.

Like Magnum Moon, Audible is trained by Pletcher, who has experience winning at Churchill Downs.

Building on that legacy, black American jockeys won 15 of the first 28 runnings of the Kentucky Derby, paving the way for generations of black American sports stars. On Derby Day, there will be 10 live races - five of which will be broadcast live on NBC. Europe's horse races are posh and sophisticated events, but in the United States horse-racing was associated with gambling and drinking, not really a family environment. Previous year the bar ran through more than 15 pounds of mint. This is a race for 3-year-old female horses, and it traditionally held the day before the Kentucky Derby. He has Bolt d'Oro, the colt named in part for Olympic champion sprinter Usain Bolt.

Why he can win: Good Magic has never finished out of the money in his five career races, and is coming off of a win at the Blue Grass Stakes. "My vocabulary doesn't have the words for it", he said of Justify, which has won all four of its starts.

It's an impressive race record for a horse so fresh to the track.

"What I really like about his last two races is he showed diversity in his running style", said Todd Pletcher, the two-time Kentucky Derby victor who trains Audible. Only one - Funny Cide in 2003 - has ever won the Run for the Roses, and he was a double oddity, beating the NY curse and becoming the first gelding to win the Kentucky Derby since 1929.

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