A race that lasts less than two minutes, but thrills the locals who wait, hope and prepare all year round. The Palio is a horse race held in Siena, Tuscany (Italy). Since 1644, the Palio has been held every year on July 2, in honor of Our Lady of the Basilica of Provenzano, and on August 16, the day after the Assumption of the Virgin Mary. Each race consists of three laps around the city's piazza del campo (square), involving ten of its seventeen contrade (districts). The first horse to cross the finish line with or without a rider is declared the winner.