Shackleford has won the 2011 Preakness Stakes

Proving the that odds-making is truly a guessing game, 12-1 underdog Shackleford won the 2011 Preakness Stakes, and its $1 million purse, after leading for large portions of the race.

Animal Kingdom, the Kentucky Derby winner, wasn't able to sneak up on anyone this time, and his late charge came up well short.

The victory was redemption for Shackleford, who finished fourth behind Animal Kingdom after leading for much of that race.

It also meant there would be no Triple Crown try at the Belmont Stakes in three weeks.

In the Preakness, Shackleford battled for the lead from the outset. He trailed Flashpoint in the early going, then took the lead and wouldn't relinquish it despite a hard charge from Animal Kingdom.

Ridden by Jesus Lopez Castanon and trained by Dale Romans, Shackleford won by a half of a length in 1:56.21.

Castanon has never before won a Triple Crown race or even Breeders' Cup race. His father was a trainer in Mexico.

Animal Kingdom was the morning-line 2-1 favorite at Pimlico and was bidding to become the first Triple Crown winner since Affirmed in 1978. The colt came from well behind to make a charge, but appeared to make the move too late. He paid $4.20 and $3.60.

Astrology took third and paid $8.00.

Dialed In finished fourth, followed by Dance City, Mucho Macho Man, King Congie, Mr. Commons, Isn't He Perfect, Concealed Identity, Norman Asbjornson, Sway Away, Midnight Interlude and Flashpoint.

Shackleford's last win was in early February at the ALW.

Animal Kingdom, who came out of nowhere to win his first race on dirt in the Kentucky Derby, was favored to win the Preakness Stakes on Saturday, but never really contended for the lead.

It's been 33 years since Affirmed swept the Kentucky Derby, Preakness and Belmont to become horse racing's 11th Triple Crown winner.