Entertainment Sports Everything to Know About the 148th Kentucky Derby — Including When and How to Watch This Weekend The 148th Kentucky Derby kicks off Saturday at the historic Churchill Downs Racetrack in Louisville By Glenn Garner Glenn Garner Instagram Twitter Glenn Garner is a Writer/Reporter who works heavily with PEOPLE's Movies and TV verticals. Since graduating from Northern Arizona University with a dual major in journalism and photography, he got his professional start at OUT Magazine, The Advocate and Teen Vogue, and he's since consistently kept his finger on the pulse of the LGBTQ community. His first book The Guncle Guide was released in 2020 and was featured on Katie Couric's list of 100 recommended books of the year. People Editorial Guidelines Published on May 6, 2022 01:13 PM Share Tweet Pin Email Photo: GETTY (2) There's $3 million on the line this weekend as 20 horses and their jockeys vie for first place at the most fashionable equestrian event of the year, the 148th Kentucky Derby. The two-minute race has become quite the spectacle over the years, as thousands of fans show up and out for the star-studded event, wearing their most colorful southern chic attire and ornate hats at the historic Churchill Downs Racetrack in Louisville. Here is everything you need to know ahead of Derby Day, including how to watch the race and which horses to bet on. Kentucky Derby Trainer Bob Baffert Suspended After Winning Horse Medina Spirit Fails Drug Test 1. When is it? Taking place traditionally on the first Saturday of May, this year's Kentucky Derby kicks off Saturday, May 7, with post time at 6:57 p.m. EST, one of 15 live races televised from Churchill Downs this weekend. The first of the Triple Crown races, the Kentucky Derby is followed by the Preakness Stakes on Saturday, May 21, and the Belmont Stakes on Saturday, June 11. 2. Where can you watch? NBC's live five-hour coverage of the Kentucky Derby starts Saturday at 2:30 p.m. EST, and fans can also watch the broadcast on Peacock, live. NBC Sports begins its live coverage of the Kentucky Oaks on Friday, May 6 at 1 p.m. EST. Derby coverage will also air live on USA Network, starting Saturday at noon EST. 3. Who are the biggest contenders? With 20 horses vying for their share of the $3 million purses, Mo Donegal (10-1 odds) tops this year's leaderboard after winning the Remsen Stakes in December 2021, followed by Happy Jack (30-1) and Gun Runner champ Epicenter (7-2). 4. Who are the commentators? Mike Tirico will host NBC's live coverage of the Kentucky Derby for sixth time, accompanied by analysts Jerry Bailey — a two-time Derby winner and Hall of Fame jockey — and Randy Moss. They will also be joined by Eddie Olczyk, host/reporter Ahmed Fareed, reporters Britney Eurton, Donna Brothers, Kenny Rice, Nick Luck, and race caller Larry Collmus, as well as "Run for the Roses" feature host Rebecca Lowe. NBC News' Dylan Dreyer and E!'s Zanna Roberts Rassi will lead the Kentucky Derby's fashion coverage, as NBC Sports' Dale Earnhardt Jr. and Rutledge Wood will serve as lifestyle correspondents. 5. Which celebrities will be in attendance? Dia Dipasupil/Getty Image The Kentucky Derby serves as quite the "who's who," attracting a number of celebrities each year for the race and lineup of fashionable events. In recent years, the event has been a father/daughter tradition for the late Anna Nicole Smith's daughter Dannielynn Birkhead, 15, and her father Larry Birkhead — and they are expected to attend, again, this year. Janet Jackson, Orlando Bloom, Justin Hartley, Tamar Braxton and Jason Aldean are just a few of the names who are also expected to be in attendance at Friday's Barnstable Brown Kentucky Derby Eve Gala, according to a press release from the University of Kentucky.