Kentucky Derby hopeful Uncle Mo with exercise rider Hector Ramos gallop on the track during early morning workout at Churchill Downs in Louisville, Kentucky, May 5, 2011. REUTERS/John Sommers II (UNITED STATES – Tags: SPORT HORSE RACING)

For weeks, the notion surrounding the Kentucky Derby is that there is no clear-cut favorite this year. But given the latest news on contender Uncle Mo, one may have just emerged.

During a press conference on Friday morning, trainer Todd Pletcher and owner Mike Repole announced that Uncle Mo had been diagnosed with a gastrointestinal infection after fishing a disappointing third in the Wood Memorial on April 9. He was then treated with antibiotics and had appeared to be improving, but after consulting with a trio of veterinarians Pletcher and Repole came to the conclusion that their colt wouldn’t be ready in time for Saturday’s race.

So Uncle Mo has been scratched.

The main beneficiary of Uncle Mo’s misfortune is Dialed In, who has been considered the favorite for weeks. But his odds were listed at +350 on Monday, while Uncle Mo was +400 – thus the reason that observers didn’t feel as though there was a clear-cut favorite this weekend.

But now Dialed In is listed at +250, while the thoroughbred with the next best odds is Nehro at +700. Oddly enough, Nehro was going off at +600 on Monday, +400 on Wednesday and is now +700, so his odds have actually gotten worse despite the news that Uncle Mo has been scratched.

Either way, Dialed In would appear to be the clear-cut favorite to win this Saturday. And if recent history is any indication, that may not be a good thing. Big Brown was the last favorite to win the Kentucky Derby back in 2008. Since then, two long shots in Mine That Bird and Super Saver have won. But maybe this is the year that the favorite gets back into the winner’s circle at Churchill Downs.