Any ideas for a fun Kentucky Derby pool?

Question

I'm looking for a fun Kentucky Derby pool. Something a little more complex than just drawing horse names out of a hat and definitely less complex than paramutel betting. Something easily understood for a party atmosphere.

Answer 1

let every one pick their horse. in event of tie/ties separate by the winning time of the race, or number of lengths won by!

Answer 2

Play it like a baseball pool; numbers accross the top (# of  horses)

with the same numbers on side, to win you must hit the exacta

(1st & 2nd) .

jm

Answer 3

Have a draft-depending on how many peeps or chooses 3 horses--most win place show money wins