Lining up for the rat race in Louisville, Kentucky

(CNN) -- Before the infamous Run for the Roses, there's the little-known Frenzy for the Fruit Loops.

Spalding University in Louisville unofficially kicks off the Kentucky Derby on Wednesday with its 25th annual Running of the Rodents. Instead of sweet-smelling roses and a hefty helping of prize money, the rat champion earns a garland of sugary cereal.

"We get rats donated from a pet store, then the students train them with Fruit Loops," says Gina Parr, of the Catholic college's public relations department. "The rats really like them [Fruit Loops]; Some [eat so much, they] won't fit in the starting gate," she says.

Nine rats compete, and betting is heavy.

"Yeah, they wager," says Parr. "25 cents a bet. A winning bet pays 30 cents."

The Running of the Rodents began as a joke, but -- befitting its founder -- it's educational too.

"One of the sisters -- she was chair of the math and sciences department -- she overheard a student talking about the rat race of final exams, so she came up with the idea," explains Parr. "It's also to teach about animal behavior modification."

There are seven races, modeled after the Kentucky Derby ("It's been called the most exciting two seconds in sports," Parr points out), and the rats are given names that rival their horsey comrades. This year's theme is "Silver Celebration" since it's the 25th year of the race.

"The names are things like Silverado, Silverware, Gus -- which means 'giddy up, silver' -- Silver Streak, things like that," says Parr.

After the race, the rats either become pets of their trainers or they are donated to grade schools as pets. No mention of champions being put out to stud....

Related sites:

• Spalding University
• Kentucky Derby Museum

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