Some have called the Kentucky Derby the “Calvin Borel Invitational” and while Borel has won the last three of the last four Runs for the Roses’s, most experts are not optimistic about his chances in its 137th running (especially after he was sick this Wednesday and off of all of his planned rides).

Borel remains a local favorite, however, and I expect the final odds of Twice the Appeal to reflect this. So as I did during the Breeders Cup (admittedly with little success) last fall I am going to bet $2 for Calvin Borel to win in every race he’s riding this Derby day and see how he does.

Race 3: TwinSpires.com, horse 9, Tyrus

Calvin’s first up in the third race aboard the nine horse Tyrus.

And they’re off.

And the done. And I’m down $2. Calvin finishes out of the money. We’ll see how he does as he’s up again in the Fifth race.

• Result: Out of the money
• Winnings: $0.00
• Total: -$2.00

Race 5: Pleasant Colony

Dead last. And Calvin seems to be losing his shine with bettors as his horse Carsoncitygambler started with a morning line of 8-1 and went off at 16-1.

• Result: Out of the money
• Winnings: $0.00
• Total: -$4.00

Race 6: The 17th Running of the Twin Spires Turf Sprint

Nothing. Nada. Zippo. Borel was on the 17-1 Henry's Time who, well, clearly was on his own time bringing jockey Borel to 0-3 for the day.  Next up race #7.

• Result: Out of the money
• Winnings: $0.00
• Total: -$6.00

Race 7: The 25th Running of the Humana Distaff

So close. Fourth.  He had a great ride—seemed very focused—his mount Tidal Pool just didn't have anything left as the number one horse Sassy Image with the newly cured Robby Albarado came out of nowhere and over took the field.

• Result: Out of the money
• Winnings: $0.00
• Total: -$8.00

Race 8: The 26th Running of The Churchill Distaff Turf Mile

If you don't get out of the gate you can't win. This was the case for Borel in the eighth race who was (briefly) abroad Vivo Per Lei before there was a false start at the gate and Calvin was unseated.  The race went off without either Borel or Vivo Per Lei.

• Result: Unseated at the gate and scratched
• Winnings: $0.00
• Total: -$8.00

Race 9: The Churchill Downs

Borel finishes a close fourth but was just a few legs out of the winner's circle.  He doesn’t have a mount in the 10th race so he’s up in the saddle again in the Derby.

• Result: Out of the money
• Winnings: $0.00
• Total: -$10.00

Race 11: The Kentucky Derby

Alas, it was not four Derbies in five years for Calvin: he and Twice the Appeal, bet down from a 20-1 morning line to 11-1, finished 10th.

• Result: Out of the money
• Winnings: $0.00
• Total: -$12.00

Race 12: Sea Hero

For the first time today, Borel finished in the money: showing aboard the 3-2 favorite Streakin' Mohican. I, alas, did not finish in the money, as I'd only bet him to win. Calvin's on a 15-1 morning line horse in the 13th race, so I can still make a profit today.

• Result: Out of the money
• Winnings: $0.00
• Total: -$14.00

Race 13: Foolish Pleasure

My husband calls the two races after Derby the Derelicts Specials as its mostly just punters looking to recoup their loses hanging around Churchill. So here I am. Aboard G. W.'s D'oro, Calvin went off at 17-1—again being bet up at his hometown track.

And, again, Calvin lost. 2011 is not going to go down as Calvin's best day: no wins, no places, and one show in nine races. And gambling wise, it's not going down as my best day either.

• Result: Out of the money
• Winnings: $0.00
• Total: -$16.00