Spectacular Bid's attempt at the Triple Crown began with the Kentucky Derby at Churchill Downs in May 1979. The crowd of 125,000 made him the 3/5 favorite, with California champion Flying Paster the bettors' second choice. Spectacular Bid seemed nervous before the start, but Delp was so confident of victory that as the horse paraded in front of the fans, he called, "Go bet! Go bet!" Spectacular Bid was restrained by Franklin in the early stages before moving up on the outside to take the lead on the far turn. He drew clear in the straight and won by 2¾ lengths over General Assembly, with Golden Act in third. After suffering a leg cut during the race, Flying Paster finished fifth. Spectacular Bid was the last two-year-old champion to win the Kentucky Derby until Street Sense in 2007.