Bodemeister (4-1 odds) and Union Rags are the favorite horses on the morning of the 2012 Kentucky Derby.
The 138th edition of the race is not scheduled to begin until 6:24 p.m. ET, but live streaming of the event can be found beginning at 4 p.m. ET on NBCSports.com.
The coverage will include NBC's Red Carpet Special beginning at 4 p.m. and pre-race coverage beginning at 5 p.m.
You could also choose to watch the event coverage on television. Coverage begins at 11 a.m. with the Kentucky Derby Undercard on the NBC Sports Network. At 4 p.m., coverage switches over to NBC, where viewers can watch the Red Carpet Special followed by pre-race coverage and then, finally, the race.
See SB Nation's And Down The Stretch They Come for full race analysis. You can also follow the SB Nation StoryStream, as well as our coverage here at SB Nation New York.