Journalism is considered one of the early favorites to win the Kentucky Derby, but betting on the horse alone may not provide the payout you seek. You can always feature the favorite as a part of an exacta or a trifecta, or explore other races within the Churchill Downs program on that day to piece together a daily double or a pick-6.

Of the 118 gray or roan horses to enter the Derby since 1930, only eight have won the race. Three gray horses won the Derby between 1997 and 2005 but only one has finished better than third in the last 20 years. Of the 42 gray or roan horses to enter the Derby in that span, five have finished in the money.