The Dubai World Cup is the richest day in racing, which means the prize pot is absolutely huge.
Last year the winner of the main race took home $10 million (Dhs36.7 million), but that's been increased to $12 million (Dhs44.1 million) this year.
And while the total prize money last year was $30 million (Dhs110.2 million), it's been increased to $35 million (Dhs128.6 million) for 2019.
The increase was made under the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who set up the race back in 1996.
The first Dubai World Cup was held at the now defunct Nad Al Sheba Racecourse in 1996 when it was won by the legendary US star Cigar, ridden by Jerry Bailey.
The jockey holds the title for the most wins in the race, as he went on to win it three more times. The race has been held at Meydan since 2006.
This year, it's being held on Saturday March 30, with the first race at 3.45pm. Gates open one-and-a-half hours before that, so you'll want to be heading over early to get the best views.
This year, it's being held on Saturday March 30, with the first race at 3.45pm. Gates open at noon on the day, so you'll want to be heading over early to get the best views.
The Dubai World Cup itself, which was won last year by Thunder Snow, takes place at 8.50pm.
Time Out Dubai will be bringing you live coverage throughout the day with galleries of all the best outfits, hats and action from the track. Click here to see the top pictures from last year's races.
There will also be plenty of entertainment, with Grammy Award-winning pop legend Gwen Stefani set to headline a huge concert at the end of the night.