
It's the richest horse race in Britain, but the Epsom Derby only received its name on the toss of a coin.

The tale goes that during the celebrations following the inaugural running of the Oaks Stakes at Epsom in 1779, a new race was proposed. It would be named after the party's host, the 12th Earl of Derby, or one of the guests, Sir Charles Bunbury, depending on the toss.

Derby won the naming rights and the rest -- not least the Kentucky Derby -- is history.

This year's 238th edition of the Epsom Derby is worth nearly £1 million ($1.3 million) to the winning connections.

But, in the early years, drinking, carousing, gambling, cockfighting, illegal bare-knuckle boxing matches and all manner of other activities ran alongside the racing.

That didn't detract from its popularity, with the attendance swelling to around 8,000 in 1795 to 10 times that number in 1823, according to the official Epsom Derby website.

A full cross section of society still attends to this day. Queen Elizabeth II has only missed two races since 1946.

"There's no occasion that gets to you like the Derby," said two-time champion Frankie Dettori. "It's stressful and nerve-racking. You feel the tension, but that's a good thing -- if you arrived at Epsom and you didn't feel it, that would mean the Derby didn't matter. And believe me, it does."

This year's event takes place Saturday June 3. The Derby. The Bunbury. What's in a name?