Kentucky Derby 2012: Wide-Open Field Shows Excitement Horse Racing Offers

Unpredictability. It creates excitement, where anything can happen, anyone can win.

That's why horse racing is so exciting, and why this year's Kentucky Derby should be a joy to watch.

Sure, there are the favorites heading into the 138th Kentucky Derby. There is Union Rags. There is Bodemeister. There is Gemologist. But there are also several other horses who could legitimately be called favorites.

Churchill Downs oddsmaker Mike Battaglia is having a heck of a time determining the top horse this year.

Battaglia told Blood-Horse magazine early in April:

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"Normally, three weeks out from the Derby, I can say it is between A and B. This year it is between A, B, C, D and E. I cannot remember a year when I thought it was so close between this many horses."

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Indeed. Beyond Union Rags, Bodemeister and Gemologist, there is Dullahan, the consistent Creative Cause and Take Charge Indy.

Dullahan ran down Hansen to win by a 1½ lengths in the Blue Grass. He's run on multiple surfaces and has a come-from-behind style that has some viewing him as the favorite.

Creative Cause defeated Bodemeister in the San Felipe Stakes at Santa Anita in March and was nosed by I'll Have Another in the Santa Anita Derby three weeks ago. He's never been out of the money in eight career starts.

Take Charge Indy beat out Union Rags in the Florida Derby at the end of March.

There are some people who believe picking out of a hat is the best way to bet on horses. After all, Animal Kingdom came out of nowhere to win the Kentucky Derby last year. He faced 20-to-1 odds. 

This is why the Kentucky Derby, and horse racing in general, is so exhilarating. You obviously have the horses who are "best positioned to win," but the reality is, any horse can steal the show with one electric run. Also, a lot of the training goes on behind the scenes, so it's hard to get a crystal-clear picture of which horse is feeling the best come race day.

Watch the Kentucky Derby this year, and don't be surprised if several horses are sprinting neck-and-neck toward the finish line.