Gray horses: Gray horses look different, so they generate some excitement from people who might not care about a horse’s pedigree or speed rating. No gray horse has won the Kentucky Derby since 2005. There are three grays running this year: Sandman, Final Gambit, and Chunk of Gold.

Latest odds for Kentucky Derby 2025 after Rodriguez was scratched from the Run for the Roses field and Baeza entered Saturday race at Churchill Downs:

Churchill Downs Incorporated is the owner of the track where the famed namesake race is run —and some analysts say its stock has plenty of upside right now