The 1982 Kentucky Derby was the 108th running of the Kentucky Derby. The race took place on May 1, 1982, with 141,009 people in attendance.

Full results Finished Post Program Horse Jockey Trainer Owner Time / behind 1st 18 11 Gato Del Sol Eddie Delahoussaye Edwin J. Gregson Arthur B. Hancock III & Leone J. Peters 2nd 8 7 Laser Light Eddie Maple Patrick J. Kelly Live Oak Plantation 3rd 10 15 Reinvested Don MacBeth Stanley M. Hough Harbor View Farm 4th 13 1 Water Bank Marco Castaneda Ron McAnally Elmendorf Farm 5th 11 8 Muttering Laffit Pincay Jr. D. Wayne Lukas Tartan Stable 6th 14 9 Rockwall Heriberto Valdivieso Vincent Clyne Nelson Bunker Hunt 7th 7 6 Air Forbes WonAngel Cordero Jr. Frank Laboccetta Edward Anchel 8th 16 10 Star Gallant Bill Shoemaker Leonard Imperio Buckram Oak Farm (Mahmoud Fustok) 9th 19 19 Majesty's Prince Ruben Hernandez Joseph B. Cantey John D. Marsh 10th 1 12 Cupecoy's Joy Angel Santiago Alfredo Callejas Ri-Ma-Ro Stable 11th 4 3 El Baba Donald Brumfield Dewey P. Smith Dorothy D. Brown 12th 6 5 Wavering Monarch Randy Romero Rusty Arnold Greathouse Family 13th 17 1a Cassaleria Darrel McHargue Ron McAnally 20/20 Stable 14th 5 4 Royal Roberto Miguel A. Rivera James H. Iselin Key West Stable (Mitchell Wolfson Sr.) 15th 9 14 Music Leader Pat Day Tommie Morgan Glaser-Ellett 16th 2 2 Bold Style Jeffrey Fell Jack Van Berg Len Mayer 17th 15 18 Wolfie's Rascal Jorge Velásquez Howard M. Tesher Cohen-Cohen-Kumble 18th 3 13 New Discovery Jerry BaileyEugene Jacobs Herbert A. Allen Sr. 19th 12 16 Real Dare Richard Guidry John Mabry John E. "Boyzie" Jumonville Sr.

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