It was ten years after the Civil War ended, when on 80 acres of land three miles south of downtown Louisville, secured by John and Henry Churchill, 15 horses were loaded into the gate for the first Kentucky Derby.

The date was May 17, 1875. Ten thousand people, a goodly share of the local population, showed up to see Aristides win the race. He earned $2,850, going 1 1/2 miles in 2:37 3/4.

The clubhouse, a one-room building located where the stable is today, was built by M. Lewis Clark, grandson of the explorer William Clark (better known as one half of the Lewis and Clark Expedition).

By 1878, new French technology called "parimutuel wagering" (which means "amongst ourselves") was introduced, marking a continental first. Bookmakers protested and the machines were barred in 1889. Today they're back in use.

In 1896, the distance of the Derby was switched to the historic, current distance of 1 1/4 miles, because racing secretary Charlie Price felt the race was too long for 3-year-olds so early in the season.

Oliver Lewis rode Aristides to victory. William Walker won with Baden-Baden in 1877. Erskine Henderson won it. So did George Jarret Lewis, Babe Hurd, Issac Murphy, Isaac Lewis, Alonzo Clayton (at age 15), James "Soup" Perkins (also 15), Willie Simms (in 1896 and 1898) and James Winkfield (who scored in 1901 and 1902).

All these men had one thing in common. They were African-Americans. They were sons of slaves. But the wealthy plantation owners knew who the best horsemen were, and used them for their raw knowledge and keen ability.

A number of black trainers have also had Derby success. Hank Allen was the most recent, taking Maryland-based Northern Wolf to a 6th-place run for the roses in 1989. That horse went on to win many racers on the East Coast.

Women love to gamble as much as men, but only four women have rode in the Kentucky Derby: Diane Crump (1970), Patricia Cooksey (1984), Andrea Seefeldt (1991) and Julie Krone (1992). Women are the fastest growing segment of most American jockey colonies. They number up to 50 percent at many of the nation's smaller tracks.

What's the mystique behind our nation's most popular horse race? Why do crowds numbering 135,000 push through the turnstiles to witness this equine extravaganza?

Could it be that this race is the epitome of all sports and gaming? Two minutes of the most grueling action, pitting the best from all corners of the nation, and more recently Europe, Japan and South America, against each other.

Whatever the reason, 163,628 attended the 100th edition in 1974--a crowd more than 50 percent larger than any Super Bowl.

It would be remiss not to talk about Derby favorites. The last public choice to win was Spectacular Bid (1979). Some recent notables that didn't live up to their backing were: Rockhill Native (1980); Proud Appeal-entry (1981); Air Forbes Won (1982); Marfa-entry (1983); Life's Magic-entry (1984); Chief's Crown (1985); Snow Chief (1986); Demons Begone (1987); Private Terms 1998); Easy Goer (1989); Mister Frisky (1990); Hansel (1991); the ill-fated, odds-on Arazi (1992), and Holy Bull in 1994.

They all met defeat. But Easy Goer and Holy Bull did go on to become great racehorses.

This year the talk centers around Pulpit, undefeated in three sensational tallies in Florida, including the $200,000 Fountain of Youth Stakes.

But talk is cheap. To join the ranks of Triple Crown winners he'll have to do more than he's done. Those horses that have worn the coveted Crown include: Sir Barton (1919); Gallant Fox (1930); Omaha (1935); War Admiral (1937); Whirlaway (1941); Count Fleet (1943); Assault (1946); Citation (1948); Secretariat (1973); Seattle Slew (1977), and Affirmed in 1978.

Because if one thing other than death and taxes is certain, it's that to beat the best horses on any given First Saturday in May at Churchill Downs, one has to be more than good. More than lucky.

To win the greatest race in the world, with about 2:00 minutes in which to figure how to do it? Go figure.

How to bet the Derby

Over the last decade most casinos in Atlantic City, Nevada and the Caribbean have opened simulcasting race books. They're generally located just off the casino floor, or adjacent to the poker room, and are frequently noticeable by the chants of loud, stretch-calling horse players that dwarf the sounds of a hot craps table.

Go on in, there's no admission. And don't be intimidated. Racing fans are just cheering home their longshots, which sometimes can offer life-changing payoffs, if you get lucky enough to hit a Trifecta (picking the first three finishers in exact order), or the Pick-6 (sweeping six straight winners). But if you're new to racing on Kentucky Derby Day (May 3, 1997), we'd suggest trying your luck in the Win, Place or Show pool. You'll not break the bank, but if your pick runs third, you'll certainly cash a show bet.

In the Derby, show payoffs are generally higher than in regular races. That's because the pools are gigantic. Seattle Slew and Spectacular Bid both paid $3 for $2 to win, but $2.80 to show. In 1994, Go for Gin returned $20.20 top win, $8.40 to place, $5.80 to show.

There's also Exacta (selecting 1-2 runners in perfect order) and Daily Double (selecting the top horse in two consecutive races). Those bets can get you launched--with enough ammo for an entire casino weekend of racing, blackjack and video poker.

For those more adventurous (and I know you are, or you wouldn't be reading this magazine)--try a tri. If you don't know what you're doing (join the crowd), just box (playing your three runners to finish in any order) your address or phone number. It only costs $6 and could net you thousands.

The most important thing to remember is why you gamble in the first place. It's to have fun and win money. I can't think of many days more exciting than Derby Day, so take a chance on my advice this year and have some fun.

This story is dedicated to the loving memory of Isobel Goodman, who was the nation's top female handicapper and worked at the Philadelphia Inquirer. She died on March 4, 1997.

Dusty Nathan is the racing columnist/analyst for South Jersey's newspaper, the Courier-Post, a Gannett publication since 1987. He gives seminars to racing fans regularly at East Coast tracks and OTBs.