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American Pharoah 5-2 favorite in 141st Kentucky Derby

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LOUISVILLE, Ky.(PIX11) — The first Saturday in May is back again, and for those who love mint juleps, designer hats and race horses, that only means one thing: it’s Kentucky Derby day.

Out of 20 horses, the favorite for the 141st “Run for the Roses” is brown colt American Pharoah 5-2. He will be ridden by Victor Espinoza, who won last year’s Derby with California Chrome. The winner will receive $2 million in prize money.

Jockey Victor Espinoza rode California Chrome into the finish line to win the 2014 Kentucky Derby on May 3. Espinoza will be riding favorite American Pharoah in this year's derby. (Photo: Getty Images)

Jockey Victor Espinoza rode California Chrome into the finish line to win the 2014 Kentucky Derby on May 3. Espinoza will be riding favorite American Pharoah in this year’s derby. (Photo: Getty Images)

Top contenders also include Dortmund, Firing Line, Frosted and Carpe Diem, whose owners paid $1.6 million for him as a 2-year-old. The only horse costing more than a million dollars to win the race was Fusaichi Pegasus in 2000, whose owners paid $4 million for.

Hall of Fame trainer Bob Baffert could see his fourth win since 2002 if one of his top two favorites, American Pharoah or Dortmund, end up winning the 1 1/4 mile race.

Weather conditions in Louisville, K.y. are near-perfect: 74 degrees and mostly sunny at the historic Churchill Downs track. More than 150,000 fans are expected to attend the derby.

The 141st Run for the Roses will kick off at 6:24 p.m. EST following all-day coverage on NBC.