It's Derby Day, America.

It's essentially a sporting event, and a fashion show in one. (AP photo)

by Austin Stallings
Journalism Intern

Today is Derby day!

Grab a mint julep and hit the ATM, it’s time to bet the house on the ponies.

We all witnessed history in last year’s Kentucky Derby  as American Pharaoh would win, and then go on to win the first triple crown since 1978.

Unless there's a major shift in betting, Nyquist will go off as the top choice and seek to become the fourth straight favorite to win the Derby.

Shagaf, meanwhile, is somewhat surprisingly the longest shot on the board at 72-1. While flat late last time in the Wood Memorial, the son of Bernardini is undefeated on fast tracks.

The 142nd Kentucky Derby will be run Saturday evening at Churchill Downs in Louisville, Ky., with post time set for 6:34 p.m. ET. It will be broadcast on TV live on NBC, with undercard coverage earlier in the day on NBC Sports Network.

The Gayly- 5/7/2016 @ 9:41 a.m. CDT