Louisville is home to big hats, betting and horse racing come the first Saturday in May. The Kentucky Derby takes place at Churchill Downs and is a fun event for people of all ages. The hats are a signature accessory for woman attending, making a fashion statement is second only to race watching. Bets are made then the races take place, each lasting only minutes. While race watching, attendees are invited to sip on the signature drink, a mint julep.