The purse for the Kentucky Derby is $3 million and will be split among the top five finishers in the race.
This year's purse was raised for the first time in 14 years from $2 million thanks to an increase in gambling revenue, according to the Associated Press.
The winner of the Kentucky Derby takes home an estimated $1.86 million while second place gets $600,000. Third takes home $300,000, fourth gets $150,000 and fifth collects $90,000.
The winning jockey will receive 10% of the winnings.
The Kentucky Derby is the first leg of the Triple Crown. It is followed by the Preakness Stakes and Belmont Stakes. Both of those races offer total purses of $1.5 million.
The Kentucky Derby will air on NBC from 2:30 p.m. through 7:30 p.m. ET. The main event race is set to begin at 6:50 p.m. ET. Viewers will also be able to stream the race on the NBC Sports App and Fubo.