Porteños (residents of Buenos Aires) have enjoyed wagering on horses since the first race in 1876. The sport became so popular, this magnificent Beaux Arts facility was built in 1908. The grandstand of the Hipódromo Argentino de Palermo is often crowded. There is not a bad seat to witness the fast-equestrian action around the 1.5 mile track. The annual highlight is the Argentine Derby of three-year-old colts called Gran Premio Nacional (National Grand Prize) in mid-November. Betting between races is also active on the slot machines.