The greatest two minutes in sports were not so great for bettors at the Kentucky Derby Saturday. 

Reports estimate that nearly $42 million in possible winnings were lost as a result of the historic disqualification of Maximum Security, the horse that crossed the finish line first but did not win.  

The thoroughbred sped to the head of the line, but was stripped of the title because of a foul, pushing second place finisher Country House to the winner’s circle.  

Nellie Drew, a sports law expert at the University at Buffalo, said the unusual ending of this year’s Kentucky Derby could influence lawmakers as they attempt to move forward with passing sports betting legislation in New York.

"It's incumbent upon the legislators to make sure that it's done properly, with appropriate safe guards in terms of age and assistance for people who have issues with gambling,” she said. “Also with compliance to make sure that when people bet something on the outcome of an event that that outcome is indeed valid.”

Lawmakers in Albany will take another look at expanding legislation for sports begging in the state to include mobile devices, arenas and stadiums.