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Finding value in the 134th Kentucky Derby won't be difficult. That's because since Spectacular Bid won in 1979, only three favorites smelled the roses - all in the 21st Century: Street Sense, 9-2 last year; Smarty Jones, 4-1 in 2004; and Fusaichi Pegasus, nearly 5-2 in 2000.

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Naturally, fuller fields lead to higher payoffs. From 1992 to 2007, derbies averaged more than 17 ½ runners. There were 18 or more horses entered in 11 of those 16 years, with the lowest, 13, once.

Compare that to the 1960s and 1970s when during a 17-year span nine top choices scored from Carry Back in 1961 to Seattle Slew in 1977. Derbies averaged less than 13 ½ horses in 17 years as fields exceeded 18 twice. There were a dozen runners or fewer five times.

An injury to a top contender announced over the weekend already is affecting odds for Kentucky Derby futures. X-rays showed War Pass suffered a small fracture in his left front ankle, probably during the Wood Memorial on April 5 when he ran second.

So here's the latest rundown for Kentucky Derby futures odds, according to Bodog, for top contenders with enough graded earnings to participate in the post position draw on April 30:

Big Brown 3-1: Posted top speed figure this year easily winning Florida Derby. But undefeated son of Boundary has three career starts and no runner with four outings has won the Kentucky Derby since Exterminator in 1918. Include in exotics no lower than 4-1.

Colonel John 5-1: Son of Tiznow has stakes victories in two 2008 outings, but nary a triple digit speed figure in six races. Other negatives: Only two Derby winners since 1947 had two preps -- Street Sense last year and Sunny's Halo in 1983 and colt tries dirt for first time. Odds must be higher.

Pyro 8-1: Clunker in debut on synthetic surface, 10th in Blue Grass, boosted odds. But son of Pulpit recorded triple digit speed figures in three outings, is best closer with two stakes victories and will have plenty of speed to run at. However, no horse scored in Louisville after running fifth or worse in the final prep since Iron Liege in 1957. Still worth a wager if odds hold.

Adriano 14-1: Won on turf and synthetic, flopped on dirt. I pass.

Gayego 20-1: Odds a bit high on Arkansas Derby winner, one of few successful synthetic-surface-to-dirt first-timers. Stalking son of Gilded Time is worth consideration.

Monba 20-1: Vaulted to contender rankings after Blue Grass victory. Maria's Mon sibling won on both surfaces, including Churchill Downs at 2, and odds could be lower on Derby Day. Keep tabs on workouts at track.

Recapturetheglory 20-1: Illinois Derby winner triggered memories of War Emblem in 2002 wiring the field in both races. However, it won't be easy getting the lead in Louisville.

Tale of Ekati 20-1: Wood Memorial hero tries to become the second winner since 1981 when Pleasant Colony triumphed at Churchill Downs. Fusaichi Pergasus did in 2008. He'll be in the first flight.

Court Vision 25-1: Reminds me of Funny Cide, winless in 2003 preps, but hit the board twice. I got 59-1 in my Kentucky Derby futures play and had the trifecta via simulcasting. Must stay closer and increase speed. Won stakes at Churchill Downs last year and posted bullet work on April 17. I like the odds.

Smooth Air 25-1: If you love Big Brown, you should like the son of Smooth Air at the price. Comes from off pace.

Z Fortune 25-1: Maybe, maybe not. Arkansas Derby runner-up will be in second flight. Odds a tad low for me.

Bob Black Jack 40-1: Speed, but fade. Winless in two routes, game son of Skinny Jack has distance limitations. Nope.

Eight Belles 40-1: Only three fillies won Derby from 1915 to 1988 when Winning Colors wired the field. Not likely in full field if she runs.

Concluding this horse racing commentary check out Doc's Preakness Stakes expert picks page. When it comes to betting the horses our Kentucky Derby party feature is a must for any horse racing fan. Doc's horse racing terms resource is a must read for horse wagering. For 35+ years the team at Doc's Sports Service has provided and insight on horse racing handicapping.

Cowboy Cal 50-1: Son of Giant's Causeway ran seventh in only dirt race in sprint last year. Odds match chances.

Z Humor 50-1: Odds should be higher.

Big Truck 100-1: Two chances - slim and none.

Anak Nakal 100-1: Can't recommend.

Halo Najib 100-1: Ditto.

Denis of Cork 100-1: Ditto again.