The Post Position Draw of the entries for the Kentucky Derby was held Wednesday, May 4, 2016, at the Churchill Downs Racetrack clubhouse. After the draw was made, the undefeated Nyquist was installed as the 3–1
morning line favorite. In spite of having been undefeated in his seven previous races and having already defeated several of the other entries, including second-favorite Exaggerator, Nyquist was viewed as vulnerable, in part because of the statistical improbability of the race favorite winning for four years in a row. Pundits also noted the unusual number of
gray horses in the field, four in total and three of them sons of
Tapit, a gray
stallion who is ranked as the leading sire in America. ==Race description==