Congratulations, American Pharoah!

It's known as "the most exciting two minutes in sports" for good reason. On Saturday, at the Churchill Downs race track in Louisville, Kentucky, American Pharoah won the Kentucky Derby, beating out 19 other competitors who fought hard to take the title and $2 million prize. But only one horse was victorious, crossing the finish line to enthusiastic cheers from the crowd and no doubt making those who had placed money on American Pharoah very happy. American Pharoah will now go on to run in the Preakness Stakes followed by the Belmont Stakes to take the Triple Crown.

Prior to Saturday, experts had chosen three front-runners — American Pharoah, Dortmund, and Carpe Diem — but it was American Pharoah who dashed the one and a quarter mile track and finished first. After winning the first leg of the Triple Crown, American Pharoah will compete next in the Preakness Stakes, which are held on the third Saturday in May at the Pimlico Race Course in Baltimore, Maryland. If he/she wins that, then it's off to Belmont Stakes in Belmont Park in Elmont, New York, where American Pharoah will have the chance to win the coveted Triple Crown.

It's been a long journey for all 20 horses who competed on Saturday. In order to secure a spot in the Kentucky Derby, they had to complete the Road to the Kentucky Derby, a series of 35 races held at tracks around the country and the world. Beginning last September, the series awarded points to the top four finishers in each race. The 20 horses who had accumulated the most points at the end of the 35 races each secured a spot in the Kentucky Derby.

More than 100,000 people attended Saturday's race in Louisville, while millions viewed the televised race from home. Every year, millions of people bet on the Kentucky Derby, but this year was the first to ever include iPhone bettors who placed their money using the Derby Jackpot app. Those who put their money and faith on American Pharoah are undoubtedly rejoicing now.

Last year, 3-year-old colt California Chrome took home the Kentucky Derby prize and went on to win the Preakness Stakes, but failed to win the Triple Crown when the horse next to him stepped on his foot at the beginning of the Belmont Stakes.