The many fans who backed the mutuel field, or the 24th and "all others" option, during the first two pools of the Kentucky Derby Future Wager were rewarded Saturday when Smarty Jones prevailed as the 4-1 favorite at Churchill Downs.

For the first time in the six-year history of the futures, the field was favored in all three pools. As a field member, Smarty Jones returned a mere $5.60 for a winning $2 wager in Pool 1, and $10.80 for Pool 2. He was listed as a separate entrant in the third of three futures pools, returning $23.60 as second choice.

LOUISVILLE, Ky. - Cue the theme from "Rocky."

A new Philadelphia story unfolded Saturday at Churchill Downs. Smarty Jones, a Pennsylvania-bred who began his career at Philadelphia Park, is trained and ridden by horsemen based there, and is owned by a couple from nearby Bucks County, scored the richest prize in racing history when he captured the 130th at Churchill Downs.

LOUISVILLE, Ky. - On Monday, life will return to normal for Stewart Elliott when he rides The Fat Man in a $4,000 claiming race at Philadelphia Park.

On Saturday, Elliott was rewarded for a career of riding those types of horses when he guided Smarty Jones to a convincing 2 3/4-length victory in the 130th Kentucky Derby at soggy Churchill Downs. Elliott, a 39-year-old journeyman who was born in Canada, became the first jockey since Ron Franklin in 1979 to win the Derby with his first Derby mount.

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.

Front-runner Lion Heart may be too fast for his own good and incapable of carrying his speed a 1 1/4 miles. But he ranks among the elite on raw ability, and is the most likely winner - gate to wire. Barring the unforeseen, Lion Heart can shake loose from pressers Smarty Jones, Quintons Gold Rush, and Read the Footnotes. None are as fast as Lion Heart, who is in sharp form, has repeatedly proven his class, earned commanding recent Beyer Figures, and holds a pace advantage. However, Lion Heart will lose if he beats himself. It has happened before.

LOUISVILLE, Ky. - St Averil and Wimbledon were scratched Friday morning from Saturday's 130th Kentucky Derby at Churchill Downs, renewing debate over whether there should be an also-eligible list for the Derby.

LOUISVILLE, Ky. - There have been 28 unrestricted graded stakes races for 3-year-olds on the dirt in the United States so far this year. They have produced 25 different winners. Only three horses have been able to win two, and two of those horses are entered in Saturday's 130th at Churchill Downs.

But no one is running to the hills to flee Imperialism or Limehouse. No one's much running away from anyone. Come one, come all 20. A full field of 20 is entered in this year's Derby, which is acknowledged as the most competitive, wide-open Derby in years.

LOUISVILLE, Ky. - Despite two relatively uneventful schooling days, Friends Lake will be the first horse loaded into the starting gate for Saturday's Kentucky Derby, Churchill Downs starter Roger Nagel has informed trainer John Kimmel.

Horses are normally loaded into the gate in a specific order according to their post positions, with numbers 1 and 11 loaded first, 2 and 12 second, and so on. Being in post position 6, Friends Lake normally would have been loaded with the second half of the field.

- Pedigree Profiles By LAUREN STICH

ACTION THIS DAY

The theory of Dosage was popularized in this country in the early 1980's by Leon Rasmussen and Steve Roman. They contended that a horse's potential at various distances could be mathematically determined by the presence in his pedigree of certain influential stallions, dubbed chefs-de-race.

Those stallions, such as Northern Dancer, Mr. Prospector, and Stage Door Johnny, have been classified into categories based on the performance of their offspring. Roman periodically adds new sires to the list and reclassifies others.