The book Mr. Reed assigned for this class is titled, "The Kentucky Derby: How The Run for the Roses Became America's Premier Sporting Event." by James C. Nicholson. http://amzn.to/1mNBHRj He said it is the best book he has read on the Kentucky Derby and goes into great detail.
Gambling would end up being the reason the Kentucky Derby almost didn't survive. The Louisville Jockey Club originally didn't allow gambling. When a wealthy owner threatened to not come because he couldn't bet on his horse they changed their decision and allowed him to bring his own bookmaker. Once they realized they were getting cheated they refused to allow bookmakers at Churchill Downs. When this happened the wealthy owners stopped bringing their horses to the race. That is why one of the races was ran with only 4 horses. After new ownership and the closing of the competitor race, The American Derby, Churchill Downs adopted a pari-mutual way of wagering which is what is still used today.
We also discussed a bit about the jockeys in class, but I will go into more detail about that in my next update on the Kentucky Derby.
(From Wikipedia Churchill Downs 1901)
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