LOUISVILLE, Ky. — Mike Smith had been waiting 11 years for this, and he said he could actually feel it would be his day.

Not only was he impressed by the way Giacomo had been training for the Kentucky Derby, but he also sensed there might be a little karma going for him yesterday.

Holy Bull's dismal performance in the 1994 Derby had been one of his worst moments in racing. What could be better than having his finest hour aboard a son of Holy Bull?

"When I stood up at the wire, all the strength just left my body," Smith said moments after guiding Giacomo to a shocking Derby win at 50-1 odds. "My legs buckled, and I was hanging on for dear life. I've been so fortunate to have won so many great races, but I've never had a feeling like this.

"This is unreal. And I know what it's like to hurt after this race. The first time I got on this horse, before he ever ran, I said this horse was going to redeem his father's name."

Smith spent as much time talking about Holy Bull as he did talking about Giacomo early yesterday evening. A sensationally fast colt, Holy Bull romped through a series of prep races leading to the Derby. A lot of people thought he was ready to put on a show that day at Churchill Downs, Smith among them.

But nothing went right for Holy Bull in his Derby. He was knocked around out of the gate and could not move to the front, where he liked to be. A few jumps out of the gate, Smith knew he was in trouble.

"He got away flat-footed," Smith recalled. "That was the only time in his life that happened. The horse next to him in the gate was really acting bad, and he just broke just a tad slow and got wiped out. Not only did he get wiped out leaving there, but he got up and, about the second jump, the inside horse hit him. I honestly believe it knocked the air out of him. He just didn't run. I'm serious. Sometimes that happens."

Holy Bull, the 2-1 favorite, finished 12th, beating two horses.

In 1998, Smith broke his back in a spill at Saratoga. He said he came back too soon from the injury. His form fell off and so did the regularity of trips to the winner's circle. He went from being an elite rider to someone struggling to revive his career.

"Next time I get hurt, I'm going to give myself the proper time to heal," Smith said. "It took me two or three years before I was really right again. By that time, people had lost confidence in me. You start to struggle, and people think you're not the same anymore."

Giacomo's co-owner, Jerry Moss, handed Smith a $200 win ticket on the colt in the paddock before the race.

The betting slip, which was in Smith's sock during the 1-¼-mile Derby, turned out to be worth $10,260.

Closing Argument outruns his odds

Giacomo wasn't the only overlooked horse to run well in the Derby.

Runner-up Closing Argument, who went off at 71-1 odds, passed several horses and led by a half-length with an eighth of a mile to go.

"It was the thrill of a lifetime in an eighth of a mile," trainer Kiaran McLaughlin said.

McLaughlin, who was diagnosed with multiple sclerosis five years ago, made his Derby debut.

Notes

• Trainer Nick Zito sent out five horses and trainer Todd Pletcher had three runners. They accounted for 40 percent of the Derby field, but none of the first six finishers.

Seventh-place Bellamy Road, the favorite, was Zito's best finisher.

Pletcher's trio was Flower Alley (ninth), Coin Silver (12th) and Bandini (19th). Bandini, at 6-1, was the third wagering choice behind 5-2 Bellamy Road and 9-2 Afleet Alex. Afleet Alex was third.

• Battle Won ($35.80 to win) took the $231,000 Churchill Downs Handicap, one of several stakes races before the Derby.

Harvard Avenue was fifth at 7-1 in the field of 11. Harvard Avenue is owned by Ron Crockett, president of Emerald Downs in Auburn.

Half Ours ($3) won the $120,000 Three Chimneys Juvenile; Miss Terrible ($12.40) led virtually all the way in the $112,200 Comp USA Turf Mile; My Trusty Cat ($23) triumphed in the $281,750 Humana Distaff; and America Alive ($37.60) won the $470,400 Woodford Reserve Turf Classic.