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2012 Kentucky Derby Odds: Bodemeister Slips, Union Rags Odds-On Favorite. For Now.

Kentucky Derby odds have changed in the last few hours, following some heavy betting action in the run up to the 138th running of the Run for the Roses. Bodemeister was the favorite when the morning line was released, at 4-1 odds, but ceded the 'favorite' spot by sliding to 8-1 this afternoon. Union Rags, holding steady at 9-2 odds, now holds that distinction.

If you're looking to get your bets in, Bodemeister looks to be a nice value-bet at the moment, but if you like betting on a long shot, Prospective is your horse, holding 69-1 odds. Laison holds 60-1 odds, and Sabercat is at 38-1. In terms of the safer bets at the moment, Hansen sits at 7-1, Gemologist at 8-1, and Dullahan at 10-1. Here's the full listing of odds, as they currently sit.

Daddy Long Legs 26-1
Optimizer 31-1
Take Charge Indy 8-1
Union Rags 6-1
Dullahan 10-1
Bodemeister 8-1
Rousing Sermon 19-1
Creative Cause 12-1
Trinniberg 41-1
Daddy Nose Best 14-1
Alpha 22-1
Prospective 69-1
Went The Day Well 20-1
Hansen 7-1
Gemologist 8-1
El Padrino 33-1
Done Talking 34-1
Sabercat 38-1
I'll Have Another 17-1
Liaison 60-1

For more on the world of horse racing, head to And Down The Stretch They Come. Head over to SBNation.com and follow their 2012 Kentucky Derby StoryStream for more on the 138th Run for the Roses.