VIDEO: 138th Kentucky Derby Features Bodemeister Overtaken By I'll Have Another

The 138th running of the Kentucky Derby featured the sort of Cinderella story that will make a household name of jockey Mario Gutierrez and I'll Have Another, his championship horse. Bodemeister, meanwhile, will have to be content with second place after an incredible run through the first 3/4 of the race. For those who missed the incredible finish of an underdog, here's the complete race:

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Kentucky Derby 2012 Payouts: I'll Have Another Pays $32.60 For Win

The payouts are now officially posted as the results have been tallied and those few who believed in I'll Have Another are smiling from ear to ear at the thought of earning their money. A $2 bet for a win earned a nice $32.60 and the numbers are nice if you nailed the trio of I'll Have Another in first, Bodemeister in second and Dullahan in third.

Bodemeister paid $6.20 for a place bid and Dullahan paid $7.20 for show.

If you bet the $2 Exacta, Trifecta or Superfecta and won, your payout would've been handsome. Here is what the winning numbers paid:

Exacta: 19-6 - $306

Trifecta: 19-6-5 - $1,532

Superfecta: 19-6-5-13 - $48,000

Here's a complete look at the payout screen:

via assets.sbnation.com

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2012 Kentucky Derby: I'll Have Another Wins The 138th Kentucky Derby

I'll Have Another faced long odds with the oddsmakers.

Kentucky Derby 2012: Watch The Derby Online

The festivities have already begun in the 2012 Kentucky Derby. Activities officially started at 9:30 a.m. CDT on Saturday, and while most of the races are on a variety of television networks, the 138th Run for the Roses can also be viewed live on your Internet-enabled device of choice. As with most online sports, there are a few official websites you can use to stream the races.

You can watch the 2012 Kentucky Derby live online by following this link. You will be able to watch up to five races at once on the same screen live. You can also view the main races live online from NBC by following this link, starting at 4:30 p.m. EDT. Remember, no online betting allowed.

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2012 Kentucky Derby Odds: Union Rags Is The New Favorite

Just like all events in the sports world, the odds in the 2012 Kentucky Derby have shifted since post positions were announced. Bodemeister had been the odds-on favorite at 4/1, but thanks to bettors, Bodemeister is now listed with 8/1 odds. Union Rags, who had been sitting all week at 9/2 odds, is the new favorite, being listed with 6/1 odds to win the Run for the Roses.

Here's a look at the latest odds for the entire field, sorted by post position.

1. Daddy Long Legs - 24/1
2. Optimizer - 36/1
3. Take Charge Indy - 8/1
4. Union Rags - 6/1
5. Dullahan - 10/1
6. Bodemeister - 8/1
7. Rousing Sermon - 19/1
8. Creative Cause - 12/1
9. Trinniberg - 41/1
10. Daddy Nose Best - 14/1
11. Alpha - 22/1
12. Prospective - 69/1
13. Went The Day Well - 20/1
14. Hansen - 7/1
15. Gemologist - 8/1
16. El Padrino - 33/1
17. Done Talking - 34/1
18. Sabercat - 38/1
19. I'll Have Another - 17/1
20. Liaison - 60/1

Kentucky Derby 2012: Post Positions, Time, TV Coverage And More

Horse racing fans can rejoice, as the 2012 Kentucky Derby is finally upon us. Here's a look at the television schedule for the big race.

2012 Kentucky Derby: Matt Gardner Previews The Horses And Jockeys

With the 2012 Kentucky Derby one day away, it's about time we took a look at the most important aspect of Saturday: the participants.

in the below video, SB Nation's Matt Gardner of And Down The Stretch They Come takes a look at some notable horses, jockeys and trainers you should hear about on Saturday.

Bodemeister is one of the favorites, but will be racing against history. What does that mean? Calvin Borel has won three of the last five Kentucky Derbys. Can he find the magic in Louisville again, this time on Take Charge Indy?

Check out the video:

Related: Kentucky Derby 2012: Entries, Post Positions and Morning Line Odds

2012 Kentucky Derby: Area Thunderstorms Delay Races At Churchill Downs

Some races at Churchill Downs on Friday, including the Kentucky Oaks, have been delayed after thunderstorms passed through Louisville in the afternoon.

Around 4:30 p.m. ET, Churchill Downs called in patrons from the infield.

Churchill Downs recommends that the patrons in the infield evacuate. We are in a weather delay

— Joe Reedy (@joereedy) May 4, 2012

Shortly after 5 p.m., the rain started to pass and people got ready for races. The post time for the Kentucky Oaks has been pushed back to 6:20 p.m. ET

Storms likely will stay in the area throughout the afternoon and overnight. There could be rain on Kentucky Derby day on Saturday, but it is expected to disappear throughout the day, according to the Louisville Courier-Journal.

2012 Kentucky Derby Odds: No Surprises In Opening Lines, Bodemesiter The Favorite

• Daddy Long Legs 30-1
• Optimizer 50-1
• Take Charge Indy 15-1
• Union Rags 9-2
• Dullahan 8-1
• Bodemeister 4-1
• Rousing Sermon 50-1
• Creative Cause 12-1
• Trinniberg 50-1
• Daddy Nose Best 15-1
• Alpha 15-1
• Prospective 30-1
• Went The Day Well 20-1
• Hansen 10-1
• Gemologist 6-1
• El Padrino 20-1
• Done Talking 50-1
• Sabercat 30-1
• I'll Have Another 12-1
• Liaison 50-1

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2012 Kentucky Derby Post Positions

The post positions for the 138th Kentucky Derby were announced on Wednesday afternoon.