American Pharoah picked up his fourth straight win last Saturday in the Arkansas Derby. Victor Espinoza has been atop American Pharoah for each of the horse's last four races and will be looking for another win as the likely betting favorite in the Kentucky Derby on May 2.

Currently going off at 2/1, according to sportsbooks monitored by OddsShark.com, American Pharoah is the favorite to win this year's Kentucky Derby. Since losing his maiden race, American Pharoah had his blinkers removed and his jockey trained, and since then he's been on a roll. His performance in the Arkansas Derby was so dominant that he was able to pull up down the stretch and coast to the win.

Dortmund currently sits behind American Pharoah on the betting board at 9/2, but many believe that by post time these two horses could be co-favorites. Off to a perfect 6-0-0 start to his career, Dortmund seems to get stronger with each race.

The horse's last performance in the Santa Anita Derby was a wire-to-wire victory that clocked in at a Beyer speed of 106. Dortmund will look to follow in the footsteps of his sire Big Brown, who won the Derby in 2008.

The horse that figures to be the biggest threat to spoil Bob Baffert's duo of American Pharoah and Dortmund is Carpe Diem, going off at 6/1 on the Kentucky Derby betting odds.

Carpe Diem has four wins and one place under his belt, and is coming into the Derby off a strong performance in the Blue Grass Stakes. This horse has a good late kick and could come from behind to win if Dortmund and American Pharoah wear each other out early.

Materiality and Mubtaahij are each going off at 9/1 to win the Kentucky Derby. The Irish-bred Mubtaahij punched his ticket to the Kentucky Derby by winning the UAE Derby in Dubai with a comfortable eight-length victory. Materiality is undefeated in three career starts.

Rounding out the Kentucky Derby odds are Firing Line and Frosted at 14/1, International Star and Upstart at 16/1, El Kabeir, Itsaknockout, Ocho Ocho Ocho and One Lucky Dane at 25/1, Danzig Moon, Far Right, Ocean Knight and Tencendur at 33/1, Imperia at 40/1 and Mr. Z at 50/1.