BBC SPORT | Special Events | Epsom Derby | Always a day to remember

He said: "It attracts more people than the British Grand Prix or the Cup Final, more than any other sporting or other major event."

More than 100,000 will flock to see the Derby, but no-one can be exactly sure how many because of a unique Epsom quirk.

"Free access to the Downs is protected by an Act of Parliament, so anyone who wants to can see the race for nothing," said Wallis.

Dressed up

Those wishing to get closer to the action can pay as little as �8 for a spot next to the rails. For �10, you can be 20 yards from the winning post.

Wallis said: "Historically, the Derby was known as the People's Race, and its accessibility has always been key to its success.

"If you want to get tickets for the Queen's Stand and get dressed up, you can. If you want to watch free of charge, you can.

"It has always had a party atmosphere. You can see that in old newsreels and, as you go back further, in paintings of the Derby."

Formal attire at The Derby
Suits you: formal attire in the Queen's Stand

But to maintain its appeal, the Derby has moved with the times.

Wallis said: "We know that the main interest of more than half of the people who come is to have a good day out.

"For that reason, we have to offer more than just the world's greatest horse race."

Recent years have, for example, seen the Hill at Epsom play host to a pop concert featuring chart-topping acts.

But tradition continues to play a large part in the Derby's atmosphere, including its dress codes and attendance by HM The Queen.

On Derby Day, morning dress is obligatory for gentlemen in the Queen's Stand, and ladies are asked to wear hats.

Double deckers

The Queen and other members of the Royal Party traditionally make an entrance by driving down the course at 1300 BST.

Jacket and tie is de rigeur for men in the Club Enclosure, but casual attire is permitted in the Grandstand.

Elsewhere, open-top double decker buses serve as mobile viewing platforms and party venues, lining the finishing straight.

The finishing line at Epsom
Open-top buses afford a good view of the finish

Of course, the British weather doesn't always enter into the party spirit, but it rarely dampens the enthusiasm of the Epsom crowds.

The fun starts the day before the big race, with Vodaphone Oaks Day, featuring the Oaks itself and the Coronation Cup..

Stephen Wallis feels there is little danger of the racing becoming a sideshow in the Derby carnival.

"The Derby is the most significant horse race in this country.

"The breeding patterns within the racing industry stem from the timing of the Derby.

"Victory can add significantly to a horse's stud value, and every young jockey wants to win it.

"Yes, the Derby is a big party, but it remains the absolute spiritual heart of flat racing."