Kentucky Derby
There is a clear favorite in this year's Kentucky Derby. Getty

The first leg of the Triple Crown is set to get underway in less than two weeks, with the 2016 Kentucky Derby. Twenty horses will look to make history on Saturday, May 7, at Churchill Downs in Louisville.

American Pharoah finished in first place at last year’s Kentucky Derby and went on to become the first Triple Crown-winner in 37 years. This year, one horse stands out as the most likely to make history.

Nyquist has the best odds of any horse in the race at 7/2. The 3-year-old thoroughbred has been the favorite since odds for this year’s race were first set and continues to look like the best in the field with seven straight victories.

"The two guys who scout horses for me … they loved the way the horse previewed. He didn't do the fastest preview, but they loved the way he covered the ground; his stride was so efficient," Nyquist's owner, J. Paul Reddam of Reddam Racing, said to CNBC.com.

A 35/1 favorite when betting odds opened, Nyquist remains ahead of the field with 7/2 odds as of Monday. He’s ahead of two horses tied at 8/1: Exaggerator and Mohaymen. Brody’s Cause, Gun Runner and Mor Spirit have 10/1 odds.

The biggest long shot at the 142nd Kentucky Derby is Discreetness with 100/1 odds. Tom’s Ready and Oscar Nominated are the only other horses that have 50/1 odds or worse.

Tickets for the 2016 Kentucky Derby are still available at Ticketmaster.com. Tickets range from $353 to nearly $2,800. Last year, a record-setting 170,513 fans were in attendance to see the Run for the Roses.

Kentucky Derby 2016 Odds (Wynn Las Vegas)

Adventist 40/1

Brody’s Cause 10/1

Cherrywine 28/1

Creator 15/1

Danzing Candy 28/1

Destin 22/1

Discreetness 100/1

Exaggerator 8/1

Fellowship 35/1

Gun Runner 10/1

Lani 20/1

Laoban 45/1

Majesto 25/1

Mo Tom 25/1

Mohaymen 8/1

Mor Spirit 10/1

My Man Sam 18/1

Nyquist 7/2

Oscar Nominated 55/1

Outwork 14/1

Shagaf 22/1

Sudden Breaking News 20/1

Tom’s Ready 50/1

Trojan Nation 40/1

Whitmore 30/1