Walk into Churchill Downs on the first Saturday in May, and the first thing you’ll notice isn't the smell of the track or the expensive bourbon. It’s the paper. Thousands of programs, clutched by trembling hands, all open to the same page. People are obsessing over the list of horses in the Kentucky Derby, trying to find that one name—that one longshot—that changes their life.
Horse racing is weird. It’s a sport where a three-year-old animal carries the weight of millions of dollars and centuries of tradition on its back for exactly two minutes. If you’re looking at the entries for the 152nd Run for the Roses in 2026, you aren't just looking at names. You’re looking at bloodlines, speed figures, and a whole lot of luck.
Most people just bet on the horse with the coolest name. Honestly? That works more often than it should. But if you actually want to understand what you’re looking at, you have to peel back the layers of how these twenty horses actually got here.
The Road to the Roses: How the List is Built
The list of horses in the Kentucky Derby isn't some random selection of the wealthiest owners' favorite pets. It’s a literal points race. The "Road to the Kentucky Derby" is a grueling series of prep races across the country—and even in Japan and Europe—where horses earn points by finishing in the top five.
Think of it like the playoffs, but with higher stakes and more dirt.
Big races like the Florida Derby at Gulfstream Park, the Santa Anita Derby, and the Blue Grass Stakes at Keeneland are the "heavy hitters." They offer 100 points to the winner. If a horse wins one of those, they are basically locked in. But then you get the bubble horses. The ones sitting at 18th, 19th, or 20th on the list. These trainers are sweating. They’re checking the injury reports every hour, hoping another horse drops out so they can squeeze into the gate.
Because here is the truth: if you aren't in the top 20, you don't run. Period. There are "also-eligible" horses that wait in the wings until the Friday before the race, praying for a late scratch. Remember Rich Strike in 2022? He wasn’t even on the main list until the very last second. Then he went out and won at 80-1 odds. That’s why the list matters.
The Names You’re Seeing This Year
In 2026, the landscape of the Derby has shifted a bit. We’re seeing a massive influence from international shippers, especially from the Japan Road to the Kentucky Derby. The Japanese breeding program has become terrifyingly good. They aren't just coming to participate anymore; they’re coming to take the trophy home to Tokyo.
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When you scan the list of horses in the Kentucky Derby, you’re going to see a mix of the usual suspects. Trainers like Todd Pletcher and Brad Cox usually have two or three runners. They have these massive "super-stables" that dominate the prep circuit. But then you’ll find a trainer from a smaller track who has one "freak" of a horse. That’s the horse that usually captures the public's heart.
Why the Post Position is a Big Deal
You can’t just look at the names. You have to look at the numbers next to them.
The draw happens the week of the race. If your favorite horse pulls the #1 hole, right against the rail, their chances just plummeted. It’s a nightmare. Imagine trying to sprint while 19 other 1,200-pound animals are trying to squeeze you into a fence. On the flip side, being too far outside—like post 20—means the horse has to run a much longer distance to get around the first turn.
It’s basically a math problem solved at 40 miles per hour.
Speed Figures and "The Bounce"
Let's talk about the Beyer Speed Figures. If you look at the list of horses in the Kentucky Derby and see a horse that just ran a 105 Beyer, you might think they’re a cinch. But horse players are terrified of "the bounce."
The bounce is what happens when a young horse runs the race of its life and then is too exhausted to do it again three weeks later. It’s a physical letdown. So, ironically, the horse that won its last race by ten lengths might be a worse bet than the horse that finished a steady second.
You want the horse that is "improving." The one whose graph is pointing up, not the one who already peaked in April.
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The Distance Factor
The Derby is 1 1/4 miles. That is a long way for a three-year-old. Most of these horses have never run that far in their lives, and most of them never will again.
This is where the pedigree comes in. If the horse’s dad (the sire) was a sprinter who liked short races, that horse is probably going to run out of gas at the top of the homestretch. You’re looking for "stamina." You want names like Tapit, Curlin, or Into Mischief in the bloodline—horses that could run all day and still want more.
The Human Element: Jockeys and Trainers
We focus on the horses, but the humans are the ones making the split-second decisions.
A veteran jockey like Irad Ortiz Jr. or Flavien Prat knows how to navigate a 20-horse field. It’s like a high-speed chess match in heavy traffic. A jockey who panics and moves too early will kill the horse's energy. A jockey who waits too long gets boxed in and never finds a hole.
When you’re analyzing the list of horses in the Kentucky Derby, look at who is sitting in the saddle. Sometimes the jockey change is the biggest hint that a horse is ready to win. If a top-tier rider jumps off one horse to ride another, pay attention. They know which horse has the "engine" under the hood.
Don't Ignore the Mud
Churchill Downs is a fickle place. The weather in Louisville in May is about as predictable as a coin flip. If it rains, the entire list of horses changes.
Some horses love "the slop." Their feet don't slip, they don't mind the mud hitting them in the face, and they just glide. Others hate it. They’ll pin their ears back and refuse to run. If the track is rated "Sloppy" on Derby Day, throw your previous notes out the window and look for the horses with "mudder" pedigrees.
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How to Actually Use the List to Make a Decision
So, you’ve got the list of horses in the Kentucky Derby in front of you. What now?
- Check the prep race replays. Don’t just look at the result. Did the horse get stuck in traffic? Did it lose because it was lazy, or because it had a bad trip?
- Look at the workouts. In the week leading up to the race, horses do "morning works" at Churchill. Clockers watch these and report back. If a horse is "galloping over the track" (looking easy and comfortable), it’s a huge plus.
- The "Eye Test" in the paddock. Watch the horses walk before the race. If a horse is sweating profusely (called "washing out"), it's nervous. It's burning all its energy before the race even starts. You want a horse that is calm, alert, and moving like a professional.
The Kentucky Derby is the only race where twenty horses go into a gate and anything—truly anything—can happen. That’s why we keep coming back. It’s not just a list of names; it’s a list of possibilities.
Actionable Steps for Your Derby Research
To get the most out of your Derby experience, start your deep dive at least two weeks out.
First, go to the official Kentucky Derby website and download the past performances for the entire field. Don't just look at the last race; look at their entire two-year-old season. Second, follow beat writers on social media who are on the ground in Louisville. They see things the TV cameras miss, like a horse that looks "stiff" in the mornings or a trainer who seems unusually confident.
Lastly, pay attention to the "Morning Line" odds. These are set by the track handicapper and tell you what the experts think the odds should be. If a horse is 10-1 on the morning line but the betting public has them at 20-1, you might have found what we call "value."
Analyze the list, trust your gut, and remember that in the Derby, the horse often chooses the winner, not the other way around.