Against All Odds: The Greatest Upsets and Most Dramatic Finishes in Breeders’ Cup History

From Arcangues’ astonishing 133-1 Classic victory to Order of Australia’s unexpected triumph at Keeneland, the Breeders’ Cup has produced some of the most remarkable surprises in Thoroughbred racing history.

LEXINGTON, Kentucky — October 2026 — The Breeders’ Cup World Championships bring together some of the world’s most accomplished Thoroughbreds.

For owners, trainers, jockeys, and racing fans, the event represents an opportunity to witness elite international competition.

But history has demonstrated that the Breeders’ Cup is not always won by the horse carrying the greatest reputation or arriving with the most impressive record.

Since 1984, the championships have produced extraordinary upsets, dramatic stretch battles, and unexpected victories that have become part of the sport’s history.

Some have involved relatively unknown international contenders defeating established American champions.

Others have featured horses dismissed as unlikely winners who produced the performances of their careers on racing’s biggest stage.

And several have provided memorable moments for Latin American jockeys and horsemen.

As the 2026 Breeders’ Cup approaches at Keeneland, Agentes 305 revisits some of the championship’s most extraordinary surprises.

1984: Lashkari Shocks the First Breeders’ Cup Turf

The inaugural Breeders’ Cup at Hollywood Park established an important precedent.

International contenders could arrive with little familiarity among American racing fans and still defeat the sport’s most accomplished competitors.

Lashkari, a three-year-old representing the Aga Khan, entered the first Breeders’ Cup Turf facing a field that included All Along, the outstanding French mare who had already achieved international acclaim.

The public gave Lashkari little consideration.

Sent off at odds of approximately 53-1, he appeared to face a difficult challenge against his more accomplished rivals.

But under jockey Yves Saint-Martin, Lashkari produced a determined performance to defeat All Along by a neck.

The victory was one of the greatest surprises of the inaugural championship.

It also demonstrated the international possibilities of the new event.

From the beginning, the Breeders’ Cup was capable of bringing together competitors from different racing systems and producing results that challenged conventional expectations.

1993: Arcangues Produces the Biggest Upset of All

Nearly a decade after the first championships, the Breeders’ Cup witnessed an upset that remains unmatched in terms of winning odds.

The 1993 Breeders’ Cup Classic at Santa Anita featured a talented field competing over 1¼ miles on dirt.

Among the contenders was Bertrando, one of America’s leading dirt runners.

Also entered was Arcangues, a French-based horse trained by André Fabre.

Although Arcangues had demonstrated ability on turf in Europe, he had never previously competed on dirt.

American racing fans knew relatively little about him, and his unfamiliarity with the surface contributed to his extraordinary odds.

Arcangues was sent off at approximately 133-1.

His jockey, Jerry Bailey, faced the challenge of navigating a competitive field aboard a horse making his dirt debut.

As the leaders approached the stretch, Bertrando appeared positioned for victory.

But Arcangues suddenly accelerated through the field.

His closing run carried him past the established contenders and into the lead.

The French runner crossed the finish line ahead of Bertrando, producing one of the most astonishing results in American racing history.

His victory returned $269.20 for a $2 win ticket.

More than three decades later, Arcangues remains the longest-priced winner in Breeders’ Cup history.

His triumph demonstrates the unpredictability of international championship racing, where a horse competing under unfamiliar conditions can occasionally deliver an extraordinary performance.

2000: Spain Defies Expectations in the Distaff

The 2000 Breeders’ Cup Distaff at Churchill Downs featured a powerful field of female Thoroughbreds.

Among the leading contenders was Riboletta, a Brazilian-bred mare who had developed into one of America’s most accomplished older female runners.

Riboletta entered the championship following an exceptional campaign and was considered the overwhelming favorite.

But the Distaff unfolded very differently from expectations.

The favorite failed to reproduce her best form.

Instead, Spain, a three-year-old filly trained by D. Wayne Lukas, delivered an outstanding performance.

Sent off at odds approaching 56-1, Spain emerged victorious and secured one of the biggest upsets in Distaff history.

The victory was particularly notable because Spain had not entered the race with the same reputation as several of her older rivals.

Her success reflected the ability of a talented young Thoroughbred to produce a career-defining performance against more established competitors.

2002: Volponi and Chilean Jockey José Santos Shock the Classic

One of the most remarkable Breeders’ Cup Classic upsets came in 2002 at Arlington Park.

The championship featured a competitive field including Kentucky Derby and Preakness Stakes winner War Emblem, Travers Stakes winner Medaglia d’Oro, and several accomplished international contenders.

Volponi, trained by P. G. Johnson, was not considered one of the leading candidates.

He had demonstrated talent but entered the Classic after a season in which he had not consistently competed at the highest level on dirt.

His odds of approximately 43-1 reflected those doubts.

But Volponi had one important advantage: an experienced jockey capable of delivering a championship performance.

Chilean-born Hall of Fame rider José Santos was aboard.

As the race developed, Santos positioned Volponi within striking distance of the leaders.

Approaching the final turn, the horse began improving his position.

Then came an extraordinary stretch run.

Volponi accelerated decisively and drew away from the field to win by 6½ lengths over Medaglia d’Oro.

The victory provided one of the biggest upsets in Classic history.

For Santos, it represented another major milestone in an accomplished career that included seven Breeders’ Cup victories.

His success also became an important part of Chile’s contribution to international Thoroughbred racing.

2011: Court Vision Denies Goldikova a Fourth Consecutive Mile

The 2011 Breeders’ Cup Mile at Churchill Downs appeared positioned to produce another historic achievement.

Goldikova, the extraordinary French mare, had already won the championship three consecutive times in 2008, 2009, and 2010.

A fourth victory would have established another remarkable record.

But Court Vision had other plans.

The American-based horse entered the Mile after an inconsistent season and was dismissed by many observers.

Sent off at nearly 65-1, he appeared unlikely to defeat the celebrated defending champion.

The race developed into a dramatic stretch battle.

Goldikova challenged for the lead, but Court Vision produced a powerful late rally under Robby Albarado.

He ultimately defeated Turallure by a nose, with Goldikova finishing third.

The victory ended Goldikova’s attempt to secure a fourth consecutive Breeders’ Cup Mile title.

It also provided one of the most unexpected results in the race’s history.

2017: Bar of Gold Delivers an Extraordinary Sprint Surprise

The 2017 Breeders’ Cup Filly & Mare Sprint at Del Mar produced another astonishing finish.

Unique Bella, an immensely talented filly, entered the race as a strong favorite.

Bar of Gold, by contrast, was largely overlooked.

The mare had shown ability in stakes competition but had never previously won a graded stakes race.

Sent off at odds approaching 67-1, she appeared to face an overwhelming challenge.

But the race unfolded at a demanding early pace.

As several prominent runners began to tire, Bar of Gold launched a powerful late rally.

She swept through the field and caught Ami’s Mesa in the final strides, winning by a nose.

The victory represented one of the most dramatic surprises in Breeders’ Cup history.

It also demonstrated how race conditions, tactical decisions, and a well-timed finish can produce an unexpected champion.

2020: Order of Australia Stuns Keeneland

The 2020 Breeders’ Cup Mile at Keeneland delivered one of the most improbable international victories in championship history.

Order of Australia, trained by Ireland’s Aidan O’Brien, had originally been placed on the also-eligible list.

He only gained entry after another runner was withdrawn.

His preparation had also been unconventional for a championship miler.

In his previous race, he had finished well behind the winner in a Group 3 contest in Ireland.

He drew the outside post position, adding another challenge to his assignment.

To complicate matters further, his intended jockey, Christophe Soumillon, was unable to participate after testing positive for COVID-19.

French jockey Pierre-Charles Boudot took over the mount.

The public gave Order of Australia little chance.

He entered the starting gate at odds of more than 73-1.

But Boudot produced an excellent ride, positioning the colt close to the leaders before asking him to accelerate in the stretch.

Order of Australia responded and held off his stablemate Circus Maximus by a neck.

The victory returned $148.40 for a $2 win ticket.

It remains the second-longest-priced winning performance in Breeders’ Cup history, behind only Arcangues.

2021: Marche Lorraine Makes Japanese Racing History

The 2021 Breeders’ Cup at Del Mar produced an important breakthrough for Japanese racing.

Earlier in the program, Loves Only You captured the Filly & Mare Turf, becoming the first Japan-based runner to win a Breeders’ Cup race.

Later that afternoon, another Japanese horse delivered an even more surprising result.

Marche Lorraine entered the Breeders’ Cup Distaff facing an accomplished group of American female runners.

Trained by Yoshito Yahagi and ridden by Oisin Murphy, the daughter of Orfevre had established a solid record in Japan.

But she had not competed at the same level as some of her American rivals.

With odds approaching 50-1, she was considered an outsider.

The early pace proved demanding, creating an opportunity for horses running from behind.

Murphy allowed Marche Lorraine to settle before launching a sustained rally.

The Japanese mare advanced strongly through the stretch and prevailed in a dramatic finish.

Her victory represented a historic achievement for Japanese dirt racing and demonstrated the growing international depth of the Breeders’ Cup.

2022: An Argentine Mare Comes Within a Nose of a Historic Upset

Not every unforgettable Breeders’ Cup surprise ends with victory.

The 2022 Distaff at Keeneland provided one of the closest finishes in championship history and nearly delivered another major achievement for Argentina.

Blue Stripe, an Argentine-bred mare trained by Marcelo Polanco, entered the race at approximately 24-1.

She faced a field that included the accomplished American mares Malathaat, Nest, and Clairiere.

In the stretch, Blue Stripe produced an exceptional performance under Chilean jockey Héctor Berríos.

For a moment, a major upset appeared possible.

But Malathaat, ridden by Puerto Rican Hall of Famer John Velazquez, continued closing.

At the finish line, three mares were separated by the narrowest of margins.

Malathaat prevailed by a nose over Blue Stripe, with Clairiere another nose behind in third.

The extraordinary finish demonstrated how close Argentine-bred horses could come to championship glory, even against America’s most accomplished runners.

Although Blue Stripe did not win, her performance remains a memorable part of the Breeders’ Cup’s Latin American history.

2025: Ethical Diamond Adds Another International Surprise

The most recent Breeders’ Cup at Del Mar produced another notable international upset.

Ethical Diamond arrived for the 2025 Breeders’ Cup Turf representing Irish trainer Willie Mullins, best known for his extraordinary achievements in jump racing.

The gelding had developed an unusual résumé, combining experience over hurdles with success in major flat races.

Facing elite international turf runners, Ethical Diamond was sent off at approximately 27-1.

The field included accomplished performers such as Rebel’s Romance.

But Ethical Diamond delivered a remarkable closing performance under Dylan Browne McMonagle.

He surged past his rivals and captured the Turf in course-record time.

The victory gave Mullins his first Breeders’ Cup success and demonstrated that unconventional career paths can lead to championship glory.

It also added another chapter to the event’s long history of unexpected international winners.

What Makes the Breeders’ Cup So Unpredictable?

The championship’s history of upsets reflects several distinctive characteristics of the event.

Unlike traditional racing programs where horses may repeatedly face familiar opponents, the Breeders’ Cup brings together elite competitors from different countries and racing environments.

European turf horses may compete against American specialists.

Japanese dirt runners may face North American champions.

South American-bred horses may attempt to establish themselves against some of the world’s most accomplished Thoroughbreds.

Different racing styles, track surfaces, pace scenarios, and unfamiliar conditions can create opportunities for surprising results.

A horse that appears outclassed on paper may prove exceptionally well suited to the particular demands of a championship race.

Similarly, a highly regarded favorite can face unexpected difficulties when competing against elite international opposition.

These uncertainties are part of what makes the Breeders’ Cup such an extraordinary sporting event.

Another Chapter Awaits at Keeneland

As the Breeders’ Cup prepares to return to Keeneland on October 30–31, the history of the championships provides an important reminder.

Greatness does not always arrive with the highest expectations.

Sometimes it emerges from an overlooked horse, an unexpected international challenger, or a jockey who produces an extraordinary ride.

From Arcangues and Volponi to Order of Australia and Marche Lorraine, the championships have repeatedly demonstrated that unforgettable moments cannot always be anticipated.

For Latin American racing fans, stories such as Volponi’s victory under José Santos and Blue Stripe’s remarkable Distaff performance also emphasize the important contributions of the region’s Thoroughbreds and horsemen.

As another generation of champions prepares to compete, the opportunity exists for new surprises, new heroes, and new moments that will become part of Breeders’ Cup history.

Because at the World Championships, even the most unlikely contender can become a legend.

Coming Next: Latin American Owners, Breeders and Bloodlines in the Breeders’ Cup.

Agentes 305 — Covering Racing Worldwide.

Part 8 of the special editorial series “Breeders’ Cup: A Legacy of Champions.”

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