2015 Kentucky Derby: Updated Preakness and Triple Crown Odds After Race Results

American Pharoah lived up to his pre-race billing on Saturday, as he took a narrow but impressive victory in the 2015 Kentucky Derby.

The triumph was the second Derby win in a row for jockey Victor Espinoza and a fourth Run for the Roses triumph for trainer Bob Baffert.

Here is Pharoah's Derby-winning run:

Unsurprisingly, all eyes now turn to the second leg of the Triple Crown, the Preakness Stakes, coming up on May 16. 

Espinoza came close to the first Triple Crown win since 1978 aboard California Chrome last year, but he fell short in the Belmont Stakes after winning the Derby and the Preakness.

Here are the latest odds on American Pharoah winning the Triple Crown in 2015, with Baffert's horse now a 2-3 favourite to win the Preakness Stakes, per Odds Shark.

American Pharoah to win Triple Crown
Yes	5-2
No	2-7

There has been a lengthy drought in American racing in Triple Crown terms; Affirmed was the last horse to achieve the feat 37 years ago.

However, there is hope for American Pharoah after the colt lived up to significant hype by beating a strong field at Churchill Downs on Saturday.

Sports Illustrated's Richard Deitsch believes it is a distinct possibility:

The next hurdle for the impressive three-year-old—who has now triumphed in his last five races—is to claim glory at the Preakness Stakes in Baltimore.

The bookies are certainly giving Pharoah a decent chance of making it two out of three, but what of the horse's connections?

Trainer Baffert is confident that his horse can recover in time for the race later this month, per America's Best Racing:

Owner Ahmed Zayat was clearly ecstatic after finally having a Derby winner, following runners-up finishes with Bodemeister in 2012, Nehro in 2011 and Pioneerof the Nile in 2009.

Asked if it was now on to the Preakness, he answered "we'll see," but he clearly has no doubts about the quality of American Pharoah, per The Associated Press' Gary Graves (h/t ABC News): "I'm speechless and very emotional. We've been very close. This is one special horse."

Since the last Triple Crown winner in 1978, 13 horses have won the first two legs, only to fall at the final hurdle by missing out in the Belmont Stakes.

Should American Pharoah win the Preakness in less than two weeks' time, there is still no guarantee that he will end the Triple Crown drought.

However, there is genuine confidence in the 2015 Kentucky Derby winner; it only remains to be seen whether it is justified.