With the unveiling of the post positions on Wednesday, Bodemeister has become the new favorite to win the 2012 Kentucky Derby, but the colt does have a few strong challengers he'll have to beat. 

According to KentuckyDerby.info, Bodemeister sits at 4/1 odds, which is the overwhelming favorite at the moment. Since the race isn't until Saturday evening, the odds are likely to change up some. 

Bodemister drew post position No. 6, which is a favorable spot in the starting gate. It's much better than the far outside. To see the rest of the post positions, ESPN has them all listed out. 

This weekend is sure to be a fantastic event, and several folks will be rooting for Bodemeister to win, but of course it won't be easy. 

With that said, here are a few horses that pose the biggest threat to Bodemeister. 

Gemologist 

Currently sitting at 6/1 odds, Gemologist is a major contender to win the 138th edition of the Kentucky Derby. The colt is one of the biggest threat to Bodemeister. 

Despite receiving post position draw No. 15, Gemologist still has a fantastic shot to win this weekend. More often than not, a horse on the outside like that will struggle in the derby, but Gemologist has what it takes to win. 

Trained by Todd A. Pletcher, a hot-shot trainer who won with Super Saver in 2010, Gemologist has won first place in the last five races it has competed in, which is why Bodemeister must be wary of Gemologist. 

Union Rags 

Sitting at 9/2 odds, Union Rags was the favorite before the post position draw before Bodemeister took over. 

Still, Union Rags is a horse that needs to be feared by all. The colt drew post position No. 4, which isn't superb but isn't horrible either. 

Union Rags' trainer is Michael R. Matz, who also trained the 2006 Derby winner, Barbaro. All signs are pointing to a great race from Union Rags, as the three-year-old is sure to make it a heated race with Bodemeister. 

Creative Cause 

With 12/1 odds to win the Kentucky Derby, Creative Cause doesn't have the next best odds from Union Rags, but the colt is the next best contender in my eyes. 

Having competed in the eight races since July of last year, Creative Cause took first place in half of them, as well as a second or third place finish in the others. 

The three-year-old was up against stiff competition in some of those races, including a win over Bodemeister at the San Felipe race in early March.