The running of the 138th Kentucky Derby is just hours away and the odds are constantly changing. The current 2012 Kentucky Derby live odds as of Saturday afternoon are Daddy Long Legs 23-1, Optimizer 36-1, 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 13-1, Alpha 21-1, Prospective 60-1, Went the Day Well 26-1, Hansen 13-1, Gemologist 9-1, El Padrino 26-1, Done Talking 31-1, Sabercat 33-1, I'll Have Another 12-1 and Liaison 54-1.

Union Rags is considered to be the horse to beat in the field. Jockey Julien Leparoux will ride the horse, which is considered to be one of the odds-on favorites to take home the Derby. Union Rags has a lifetime career of 4 wins and 1 place and has won 2 races and placed once this season. The horse has a combined winnings of over $1,000,000 in just two years on the major circuit. Leparoux and Union Rags might stay toward the middle of the pack for the majority of the race before making a major push at the end. As one of the bigtime favorites to win the derby, this horse could be a major player in the race and could be that patented horse that breaks late and takes home the victory.

Gemologist has a lifetime career of 5-0 and has gone 2-0 this season. But it still has really good odds, so the horse is strong. Jockey Javier Castellano will ride the horse and is looking to make an impact with this horse. There is a bloodline there as well as the sire was Tiznow, who won several big races. Only two horses ever have won the Kentucky Derby after opening at Turfway or Latonia and the last one happened more than 25 years ago, so that could be a major challenge.

 2012 Kentucky Derby Best Bets: Pregame.com Pro Marco D'Angelo and Dave Tuley from ViewFromVegas.com and the Daily Racing Form discuss their 2012 Kentucky Derby best bets.

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