1992 Kentucky Derby
The 1992 Kentucky Derby was the 118th running of the Kentucky Derby. The race took place on May 2, 1992. There were 132,543 in attendance. The eighth-place finish of odds-on favorite Arazi was the worst finish of an odds-on betting favorite in Derby history.
Payout
;The 118th Kentucky Derby Payout Schedule| Program Number | Horse Name | Win | Place | Show |
| 7 | Lil E. Tee | US$35.60 | $12.20 | $7.60 |
| 3 | Casual Lies | - | $22.20 | $11.60 |
| 1A | Dance Floor | - | - | $12.60 |