Pegasus World Cup 2025: Early odds and analysis

The updated list of invitees for the ninth running of the $3 million, Grade 1 Pegasus World Cup Invitational, which will be run January 25, includes 12 on the primary list and 9 reserves. The list includes seven horses with more than $1 million in career earnings and seven that have at least one victory in a Grade 1 or Group 1 race.

Here is an early analysis of the current invited horses for the 1 1/8-mile Pegasus World Cup with the morning line odds from the Horse Racing Nation staff. Each horse is listed with their most recent jockey.

Crupi, 15-1. Curlin – Todd Pletcher / Irad Ortiz Jr. – 19: 5-4-5 - $1,169,000. Crupi needed eight starts to win his first race at Monmouth Park when he was a 3-year-old and that included 2 starts on the Kentucky Derby trail. In 2024, he raced exclusively in stakes winning three times with his best in the Suburban (G2) in June at Saratoga. Crupi was also third in the Pegasus World Cup (G1) last year and second in the Whitney (G1). The now 5-year-old was moved up to fourth by disqualification in the Clark (G2) in November. Use underneath.

Imagination, 20-1. Into Mischief – Bob Baffert / Joel Rosario – 11: 2-5-2 - $471,700. Imagination was a winner of the San Felipe (G2) on the 2024 Kentucky Derby trail and then was a neck shy of winning the Santa Anita Derby (G1) behind Stronghold. He was seventh in the Preakness and the Woody Stephens (G1). Last month he was third in the Malibu (G1). The Pegasus will be his first start against older horses. Bob Baffert won the Pegasus three times with Arrogate, Mucho Gusto and National Treasure. Toss.

Locked, 5-2. Gun Runner – Todd Pletcher / John Velazquez – 6: 4-0-2 - $935,650. Locked is the most lightly raced horse in the field, but as the winner of 4 out of 6 starts he is favorite in this early analysis. He won his second start at Saratoga as a 2-year-old and was the favorite in all of his races since then. Locked impressed in the Breeders’ Futurity (G1) and then was third in the Breeders’ Cup Juvenile. Following a year away from the races, he won both starts in 2024 which were at Aqueduct against older horses in an allowance and the Cigar Mile (G2). Todd Pletcher won the Pegasus in 2022 with Life is Good. The one to beat.

Mixto, 15-1. Good Magic – Doug O’Neill / Antonio Fresu – 16: 2-2-5 - $794,180. Mixto won the Pacific Classic (G1) in August at Del Mar and has since run twice more at that track. The Breeders’ Cup Classic was just too tough a spot and then he was third in the Native Diver (G3) in November. Toss.

Mystik Dan, 8-1. Goldencents – Ken McPeek / Brian Hernandez Jr. – 10: 3-2-1 - $4,161,860. Mystik Dan carries the label of a Kentucky Derby winner who has yet to win another race. He was second in the Preakness and eighth in the Belmont Stakes before taking time off. He came back in the Malibu where he tried to rally heading into the stretch but ended up last. The Pegasus will be his first start against older horses. Toss.

Power Squeeze, 30-1. Union Rags – Jorge Delgado / David Egan – 12: 6-2-1 - $937,450. Power Squeeze is the only filly to get an invitation. She won her first four starts beginning at Delaware Park as a 2-year-old and then moved to race in Florida in the winter of 2023. She won three stakes races including the Gulfstream Park Oaks (G2). Last summer, she had victories in the Delaware Oaks (G3) and the Alabama (G1) to go with three loses behind Thorpedo Anna. Toss.

Saudi Crown, 4-1. Always Dreaming – Brad Cox / Florent Geroux – 12: 6-2-1 - $3,130,985. Saudi Crown became a Grade 1 winner in the Pennsylvania Derby of 2023 and won three other stakes races from 12 career starts. However against older horses he ran poorly in three big races; twice in the Breeders’ Cup and also in the Godolphin Mile (G2). In the Saudi Cup (G1) last year he had the lead and ended up third. Most recently he was victorious in the Tenacious at Fair Grounds last month. Brad Cox won the Pegasus in 2021 with Knicks Go. Hard to figure out.

Senor Buscador, 20-1. Mineshaft – Todd Fincher / Joel Rosario – 23: 7-2-3 - $12,944,427. Senor Buscador brings his $12 million in earnings back to the Pegasus World Cup where he rallied from far back to finish second by a neck which led to his rich victory in the Saudi Cup (G1). While continuing to run in four top-level stakes since August he was not able to finish in the top three. Use underneath.

Skinner, 12-1. Curlin – Cherie DeVaux / Hector Berrios – 12: 2-3-3 - $377,300. Skinner found his way into the Pegasus invitees after his November victory in the Native Diver which was his second career win. He had several top three finishes in graded stakes prior to that top performance. Live long shot.

Skippylongstocking, 8-1. Exaggerator – Saffie Joseph Jr. / Irad Ortiz Jr. – 28: 9-3-5 - $3,092,985. Skippylongstocking was last seen running sixth in the Breeders’ Cup Dirt Mile. Although he seems to fall short in Grade 1 races, he has plenty of recent graded stakes victories in races like the Charles Town Classic (G2), Oaklawn Handicap (G2) and Challenger (G3). Toss.

Stronghold, 12-1. Ghostzapper – Philip D’Amato / Antonio Fresu – 10: 3-6-0 - $1,128,000. Stronghold heads to the Pegasus with three second-place finishes in a row going back to July in the Indiana Derby (G3), Pennsylvania Derby, and the Malibu. His victory in the Santa Anita Derby and seventh in the Kentucky Derby make him a contender. Use underneath.

White Abarrio, 5-1. Race Day – Saffie Joseph Jr. / Irad Ortiz Jr. – 19: 8-2-3 - $5,241,850. White Abarrio is a three-time Grade 1 winner of the 2022 Florida Derby, the Whitney and Breeders’ Cup Classic in 2023. After running 10th in the Saudi Cup last year he had four months off which led to a fifth in the Met Mile and then another layoff. He moved back to the barn of Saffie Joseph and won an allowance at Gulfstream Park before finishing second in the seven-furlong Mr. Prospector. Win contender.

Reserve Invitees

Coastal Mission, AE. Great Notion – Jeff Runco / Armando Bocachica – 26: 14-5-1 - $1,121,653.

Cooke Creek, AE. Uncle Mo – Michael Maker / Luis Saez – 22: 5-3-4 - $462,817.

Mama’s Gold, AE. Bolt d’Oro – James Ferraro / Romero Maragh – 19: 6-2-0 - $381,711.

Newgrange, AE. Violence – Jose D’Angelo / K Kimura – 15: 7-0-4 - $1,014,134.

Red Route One, AE. Gun Runner – Steve Asmussen / Cristian Torres – 22: 5-4-3 - $1,813,145.

Rocket Can, AE. Into Mischief – Bill Mott / Junior Alvarado – 15: 4-4-0 - $612,193.

Society Man, AE. Good Magic – Danny Gargan / Corie Lanerie – 9: 2-2-2 - $510,030.

Steal Sunshine, AE. Constitution – Bobby Dibona / Lionel Reyes – 25: 7-2-7 - $612,160.

Tumbarumba, AE. Oscar Performance – Brian Lynch / Tyler Gaffalione – 18: 5-7-2 - $677,290.

Summary: In seven out of its eight years, the Pegasus was dominated by short prices. Winners included five favorites with odds ranging from the .80-1 Life is Good in 2022 to the 3.40-1 odds of Mucho Gusto in 2020. The only long shot victory happened in 2023 when the 6-year-old Art Collector prevailed at 15.50-1.