04/30/2004 12:00AM

Tapit, Smarty early Derby favorites

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LOUISVILLE, Ky. - Tapit and Smarty Jones were the betting favorites for Saturday's Kentucky Derby as of 6:15 p.m. on Friday. With just under $450,000 in the win pool, Both Tapit and Smarty Jones were holding at 5-1. The Cliff's Edge, the morning line favorite, was a surprising 8-1 in the early wagering.

Tapit, however, was the slight favorite over The Cliff's Edge in the Oaks-Derby daily double payoffs. The combination of Ashado with Tapit will pay $42.80, while the Ashado-The Cliff's Edge ticket is worth $48.60. A total of $1,650,450 was wagered on the Oaks-Derby daily double.

The Oaks-Derby payoffs and Kentucky Derby odds as of 6:15 p.m. were as follows:

Oaks-Derby double payoffs

Ashado (1) with:

1 - Limehouse, $240

2 - Song of the Sword, $389.60

3 - Lion Heart, $60.80

4 - Action This Day, $221.60

5 - Wimbledon, scratched

6 - Friends Lake, $138.20

7 - Minister Eric,$193.40

8 - Master David, $75.80

9 - St Averil, scratched

10 - Imperialism, $128.40

11 - The Cliff's Edge, $48.60

12 - Borrego, $91.40

13 - Birdstone, $208.60

14 - Read theFootnotes, $131

15 - Smarty Jones, $60.20

16 - Castledale, $123.60

17 - Pollard's Vision, $173

18 - Tapit, $42.80

19 - Pro Prado, $265.40

20 - Quintons Gold Rush, $300

Early Derby odds

1 - Limehouse, 36-1

2 - Song of the Sword, 57-1

3 - Lion Heart, 9-1

4 - Action This Day, 41-1

5 - Wimbledon, scratched

6 - Friends Lake, 17-1

7 - Minister Eric,11-1

8 - Master David, 8-1

9 - St Averil, scratched

10 - Imperialism, 9-1

11 - The Cliff's Edge, 8-1

12 - Borrego, 9-1

13 - Birdstone, 15-1

14 - Read theFootnotes, 19-1

15 - Smarty Jones, 5-1

16 - Castledale, 26-1

17 - Pollard's Vision, 34-1

18 - Tapit, 5-1

19 - Pro Prado, 64-1

20 - Quintons Gold Rush, 58-1