The Kentucky Derby: a complete guide

On the first Saturday in May at Churchill Downs in Louisville, Kentucky. The winner is draped in a blanket of roses, which gives the race its nickname. It's a mile and a quarter on dirt for three-year-olds, and opens the US Triple Crown.

Only three-year-olds can run, so each horse gets one chance. The race is a mile and a quarter on dirt, often with up to 20 runners, so the start is crowded. It also opens the US Triple Crown, followed by the Preakness Stakes and the Belmont Stakes.

• Only three-year-olds can run, so each horse gets one chance.
• The distance is a mile and a quarter on dirt.
• The field is large, often up to 20 runners, so the start is crowded.
• It opens the US Triple Crown, followed by the Preakness Stakes and the Belmont Stakes.

Common Derby markets are win, where your horse must finish first, and on an exchange you can also lay a horse to lose. Place or each-way bets pay if it finishes in the paid places, while a forecast or exacta needs the first two in order and a tricast or trifecta the first three.

• Win: your horse must finish first. On an exchange you can also lay a horse to lose.
• Place or each-way: your horse must finish in the paid places.
• Forecast or exacta: the first two finishers in order.
• Tricast or trifecta: the first three in order.

A big field means more traffic and more luck in running, so favourites lose more often than in smaller races. Check the draw, recent form in prep races and dirt experience. When the race is listed, it's under horse racing on King Exchange. The horse racing page covers the big meetings.