Bold Venture wins 1936 Kentucky Derby

The Kentucky Derby saw an unexpected turn when Granville's rider faced a jam at the start. This led to Bold Venture, an outsider, taking the lead. The big chestnut colt fought off the favorite, Gravity, and secured a win with the third fastest time in Derby history. Bold Venture, wearing number 6, finished ahead of Gravity and offered a payout of $43.00 for every $2.00 bet on him.

What was the significance of the time mentioned in the text?

How much did bold venture pay for each $2.00 bet?