Kentucky Derby 2012: Best Bets for Win, Place and Show

Post positions have finally be drawn for the 138th running of the Kentucky Derby and the horses' odds are already starting to move.

We know the favorites—Bodemeister, Union Rags and Gemologist—and we know the long shots.

The race is creeping ever closer and soon enough a number of horses will be over-bet and the payouts minimal.

While a 9/2 favorite doesn't offer a ton of money to win for a cheap price, pairing one up with another horse or two certainly does.

Here's a look at which horses are the best bets to finish in the money.

Gemologist

The undefeated horse comes to Churchill Downs as one of the three big favorites. His 7/1 odds, according to Sportsbook.com, are second to only Bodemeister and Union Rags.

The Derby is going to be a trust test for this colt.

If he doesn't come away with yet another win, there is a good chance he's in the money.

Daddy Nose Best

The current 15/1 horse comes into the Kentucky Derby running well and is one of only a few horses with double-digit odds to consider.

He's not a very experienced horse, but he ran for a win off a speedy pace in his last outing and has the potential to do the same here at Churchill Downs.

If he gets up to speed, he could easily find his way into the money.

Hansen

At 14/1, we can expect Hansen's odds to move towards single digits as race day approaches. He comes into the Kentucky Derby off a gate-to-wire second-place finish and has the talent to actually win this race.

He fell to Dullahan in that race, but Dullahan is 0-3 at Churchill Downs and he'll be out to make something happen this weekend.