Since 2000 (16 Derby\'s), here are your favorites by odds (excuse any typos as I tried to post this in a timely fashion). I have also posted the favorite\'s best Beyer Speed Figure pre-Derby which I believe has a certain correlation with Derby Odds. All of the pre-Derby lifetime (to that point) best BSF\'s for the horses listed (sans Harlan\'s Holiday which I\'m working on obtaining) were at a route. Nyquist\'s best BSF is a 100 at 7 furlongs while his Fla Derby performance earned a 94.
Less than 2-1: 1 (Point Given, 1.80, 110)
2-1: 2 (FuPeg, 2.30, 111 BB, 2.40 106)
5-2: 4 (Empire Maker 2.50, 111 Chrome, 2.50, 108 Bellamy Road 2.60, 120 AP, 2.90 105)
3-1: NONE
7-2: 1 (Friesen Fire, 3.80 104)
4-1: 2 (Smarty, 4.10, 108 Bode, 4.20 108)
9-2: 1 (Street Sense, 4.90 108)
5-1: 3 (Dialed In, 5.20, 97* Orb, 5.40, 97 Sweetnorthernsaint, 5.50 109)
6-1: 2 (Harlan\'s Holiday**, 6.00, Lookin at Lucky, 6.30 98)
So, 7 of favs below 3-1 (4 for 7 record) and 9 of favs above 3-1 (3 for 9 record).
Mean: 3.90
Median: 3.95
Street Sense and AP the only Juvenile Champions in that time period to be favored.
Big Brown and Smarty Jones only undefeated horses in that time to be favored.
*BSF was earned in a one turn mile for Dialed In.
**Harlan\'s Holiday--unable to find his BSF. If anyone has it, please post. He won the Florida Derby and Bluegrass. (I think it was around 104 for Bluegrass but not certain whatsoever).
I will grant you that taking speed figures out of the context of the body of the field is very dangerous territory. However, all of the horses favored below 5-1 to had a lifetime pre-Derby route best of at least 104. Notice that the 97 of DI, Orb, and 98 of Lookin At Lucky are close to Nyquist\'s 100 at 7 furlongs and still higher than his Fla Derby 94.Nyquist is your favorite but \"5-2 at most\" as you say seems very, very unlikely to me when Exaggerator and Destin have triple digit Beyers.
If there are any errors, please let me know. Thanks.