Kentucky Derby 2012 Start Time: Your Complete Guide to Beginning of Classic Race

Derby Day is finally here and soon enough the 20 horses in the 138th "Run for the Roses" will be approaching the starting gate.

By now you know all the big names—Union Rags, Bodemeister, Gemologist, Dullahan—and you know that this race is as wide open as any in recent memory.

There is a fear of rain dampening the grounds at Churchill Downs, but the race will go on rain or shine.

So saddle up, partner, and we'll take a look at everything you need to know for the race.

Where: Churchill Downs, Louisville, Ky.

Post Time: 6:24 p.m. ET

TV Coverage: NBC -- 4-7 p.m. ET

Weather Conditions (via Weather.com): Thunderstorms came through last night, but the storm is moving off and cloud cover is thinning. There are reports, however, of scattered, hit-or-miss thunderstorms resurfacing this afternoon.

Post Positions and Current Odds (via Bovada)

1. Daddy Long Legs: 30-1
2. Optimizer: 40-1
3. Take Charge Indy: 12-1
4. Union Rags: 9-2
5. Dullahan: 8-1
6. Bodemeister: 9-2
7. Rousing Sermon: 40-1
8. Creative Cause: 12-1
9. Trinniberg: 40-1
10. Daddy Nose Best: 14-1
11. Alpha: 14-1
12. Perspective: 35-1
13. Went The Day Well: 25-1
14. Hansen: 11-1
15. Gemologist: 13-2
16. El Padrino: 25-1
17. Done Talking: 40-1
18. Sabercat: 35-1
19. I'll Have Another: 14-1
20. Liaison: 50-1

Best Bets

Play the favorites if you must, but Take Charge Indy out of the No. 3 post is getting a lot of love with Calvin Borel in the saddle.

Hansen running from the 14th post offers a great price and could very easily run into the money.

Gemologist's price continues to go down, but he has a fantastic shot to win from the 15th post.

Most Important Factor

It's Derby Day, enjoy yourself.