Want to 'bet the gray' in the 2026 Kentucky Derby? There are two options.

Jon Hale, Lexington Herald-Leader on Apr 30, 2026

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It was a mixed bag of news for gray horse enthusiasts in the days leading up to the 2026 Kentucky Derby.

On Wednesday, Great White was added to the field from the also-eligible list after the scratch of Silent Tactic, giving the field three gray horses. But one day later, Brad Cox-trained Fulleffort was scratched, dropping the number back to two horses in the quest to be the first gray winner of the Run for the Roses in more than 20 years.

Despite that run of failure, gray horses remain a popular target for casual bettors.

The last gray horse to win the Derby was Giacomo in 2005. The last gray horse to even finish in the money was Essential Quality, which needed a disqualification to finish third in 2021.

Of the 128 gray or roan horses to enter the Derby since 1930, only eight have won the race. Three gray horses won the Derby between 1997 and 2005, but only one has finished better than third in the past 21 years. Of the 45 gray or roan horses to enter the Derby in that span, five have finished in the money.

But if you’re looking to bet based on vibes over value, here’s what you need to know about the three gray horses in the 2026 Derby field.

16. Pavlovian (30-1)

Trainer Doug O’Neill and owner Reddam Racing have won the Derby while teaming up twice before in 2012 (I’ll Have Another) and 2016 (Nyquist), but a California-bred horse has not won the Derby since California Chrome in 2014. Pavlovian is coming off a second-place finish in the Louisiana Derby, a head behind fellow Derby starter Emerging Market.

21. Great White (50-1)

He set the pace early in the Bluegrass Stakes at Keeneland before fading to fifth in his first career start on dirt. Both his wins came on the synthetic surface at Turfway Park. If nothing else, Great White will certainly leave a strong impression in the walk to the gate. In addition to his striking gray coat, he is considerably larger than the average thoroughbred at 17.2 hands tall.