Mike Battaglia, Kentucky Derby's most famous oddsmaker, retires ahead of 152nd edition

• Mike Battaglia, the man who got a 76.5% setting the favorite for the Kentucky Derby, retires
• He is succeeded by Nick Tammaro, a similarly gifted and important oddsmaker and handicapper
• Battaglia has warned against betting on the ponies for the sake of making a return on investment, cautioning that there is no such thing as a "sure thing"

The Kentucky Derby is a staple in the horse racing world and one of the most significant events on the calendar. However, some of the people behind the event are culturally significant as well, and one of them is Mike Battaglia, who is going to step down from his role as oddsmaker.

Bettaglia got the favorite for the Kentucky Derby in 39 out of 51 runnings

The veteran has been setting the morning-line odds for the event since 1974, but he has called his exit ahead of the 152nd edition, which takes place in May. To understand the significance of the man, just take into account that he has a success rate of 76.5% , getting the favorite for the race 39 out of 51 runnings - a rather unmatched feat.

Commenting on his decision, Battaglia said, "I’m very appreciative of everyone at Churchill Downs for the opportunity over the years. It’s been a great run, but I felt like it was the right time to step away and let someone else take it forward."

He will now be replaced by another prominent oddsmaker, Nick Tammaro, who didn’t hesitate to pay his tribute to Battaglia, whom he described as one of the most significant figures in the horse racing business.

Bettaglia is among the most famous oddsmakers in the business, and he goes right up to such names as Jody Demling as one of the most looked-up handicappers and a trusted authority on Kentucky Derby and Triple Crown winners.

Bettaglia has had fond recollections to share from his career , recounting how he did his first line in 1975 - the youngest person to ever have been entrusted with the job, and calling the first Kentucky Derby in 1978.

Straight from the horse’s mouth

Bettaglia also had a word of caution to offer to people who get overly zealous about gambling, and advised against going out on a limb to try and secure a big payday from betting on the ponies.

"If you go out there and you start betting money that was earmarked for rent, you’re in big trouble. I can tell you there’s no such thing as a sure thing. So when you bet, just be prepared to lose the money that you bet that day," he said, imparting his decades-worth of wisdom and arguably the most skilled handicapper in the game.

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