Kentucky Derby and Preakness winner I'll Have Another runs during a pre-race practice session.
Kentucky Derby and Preakness winner I'll Have Another runs during a prerace practice session. REUTERS

I'll Have Another -- a 15-1 shot -- broke late, but closed the five-length lead held by the favorite Bodemeister in the final 300 yards to win the 138th Kentucky Derby at Churchill Downs in Louisville on Saturday.

I'll Have Another, owned by J. Paul Reddam and trained by Doug O'Neill, was ridden to victory by a Mario Gutierrez, a 25-year-old Derby rookie from Mexico.

The race opened with Bodemeister leading out of the gate, Trinniberg hot on his heels, and Hansen back in third. The field remained that way through the first turn, with I'll Have Another in seventh place. The field was flying, posting the fifth-fastest mile in Derby history -- and most of the horses could not keep up with the pace set by Bodemeister.

I'll Have Another closed to second, but was still five lengths back of the favorite with 300 yards to go. However, an incredible charge down the stretch gave the relative unknown a win by half a length.

This is O'Neill's first Derby win. In 2007, he trained two horses that ran in the race: In the 20-horse field, Great Hunter finished 13th, and Liquidity finished 14th.

The next race in the Triple Crown of Thoroughbred Racing -- the Preakness Stakes -- will be run at the Pimlico Race Course in Baltimore on May 19.

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