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Kentucky Derby 2016: Live blog, updates, time, TV channel, odds, field

It's time for Kentucky Derby Day, horse racing's biggest event of the year. The hats are out, mint juleps are flowing and the racing action is underway on TV on NBC Sports Network.

Nyquist is the favorite in betting odds at 2-to-1 as of 1 p.m. ET on Saturday. He's unbeaten in seven races. But the biggest question is whether any horse can win the Triple Crown and follow in American Pharoah's footsteps. The last time there was a Triple Crown, Seattle Slew in 1977, Affirmed won it in 1978.