14 traditions that make the Kentucky Derby unlike any other event in sports

• The Kentucky Derby is one of the unique sporting events in American sports.
• The two-minute race is the longest-running sporting event in the U.S., dating back to 1875.
• From the hats to the cocktails, wagers, and more, here are all the reasons to love the Kentucky Derby.
• Visit Business Insider's homepage for more stories.

The Kentucky Derby is one of the most popular, fun events in American sports.

Often dubbed "The Most Exciting Two Minutes in Sports," the Kentucky Derby is a day-long party built around a 1.25-mile horse race.

From the hats, funky clothes, traditional cocktails, wagers, glamour, and history, here are all the reasons the Kentucky Derby is unlike any other sporting event in the U.S.

1. The Kentucky Derby is the longest-running sports event in the U.S.

According to the Churchill Downs website, the race-track opened in 1875 after its founder, Colonel Meriwether Lewis Clark, the son of the explorer William Clark, returned from England, where he became obsessed with horse-racing.

The first-ever Kentucky Derby took place in 1875 and has continued each year, even during events like the Great Depression and both World Wars.

Source: Kentucky Derby

2. "The most exciting two minutes in sports."

There are 14 races on the day of the Kentucky Derby, but race No. 12 is the big one. Nicknamed "The Most Exciting Two Minutes in Sports" or "The Fastest Two Minutes in Sports," horses run a 1.25-mile race, the highlight of the day, in usually just over two minutes. No other major sporting event in the U.S. is so short.

3. The hats!

Hats were initially customary to wear when the race began and continued to be for years. The hat styles were conservative until the 1960s when people began to wear more flamboyant and creative hats. Now the colorful hats are as much a part of the experience as the race.

Source: Kentucky Derby