Blenheim's link in another thread got me to calculating.
https://www.kentuckyderby.com/upload...rby__2019_.pdf
Adding in the 2017 and 2018 data (no geldings), I come up with this:
From 2000 thru 2018, 362 horses started in the Kentucky Derby.
349 of the starters were non-geldings.
17 non-geldings won. That's 4.87%.
13 of the starters were geldings.
2 geldings won. That's 15.38%
For in-the-money, non-geldings were 15.47%, while geldings were 23.08%.
For what it's worth, small sample size, etc. etc.
I have an Excel file if anyone wants it.