That's Why They Call It A Horse Race
Even if you don't follow horse racing (and I don't), modern_maria's take on the derby is entertaining and worth a read:
Such stories are what the Kentucky Derby is all about. It's a gunfight. You cram 20+ horses on a track built for 10 or 12 and see who can shove through to the front the fastest without breaking any rules (and getting caught). And as for the incredulous "How did it happen," where have you been for the past 130 years?
Check out the entire entry on her LiveJournal