View Photos The Kentucky Derby is also known as your best excuse to get sloshed on mint juleps and wear a fancy hat. With all the hubbub, it’s easy to forget the actual race.But for those who take the Run for the Roses seriously, we’ve recruited Jeff Siegel, HRTV analyst and co-owner of the 1997 second-place Derby winner, Captain Bodgit, to share some basic betting strategies. Aaaand they’re off!Avoid rail runners.It may be the shortest way around the track, but think of it as the 405 (too much traffic). Only one horse since 1964 has pulled a win from the inside draw.Find a closer.Front-runners rarely win the mile-and-a-quarter race.Jockeys matter.Calvin Borel has won three of the last four Derbies. This year he’ll saddle up on Twice the Appeal, a colt who would otherwise have very little chance.Consider only horses that finished in the money in their last starts.You’ll be surprised how many long-shot Derby winners have actually improved and are in good form.Use the “my favorite silks” angle if you get stuck.You may lose, but at least you’ll be able to locate your horse among the twenty or so stampeding in the “greatest two minutes in sports.”Now, ladies and gentlemen, place your bets.Photo: Getty ImagesFor more Kentucky Derby recipes, how-tos, and tips, check out Party Time.