Churchill Downs Incorporated (NASDAQ:CHDN) announced the betting results of the 151st running of the Kentucky Derby on May 3. Sovereignty, owned and bred by Godolphin, LLC, trained by William Mott, and ridden by Junior Alvarado,

Churchill Downs Incorporated is the owner of the track where the famed horse race is run —and some analysts say its stock has plenty of upside right now

Sovereignty won in a rainy 151st Kentucky Derby, coming around the outside to edge out the race favorite, Journalism. Journalism held on for second, while Baeza rounded out the top three. Sovereignty had 7-to-1 odds entering Saturday's race.