ELMONT, N.Y. – The 150th running of the Belmont Stakes is Saturday at the 113-year-old Belmont Park.

The third and final leg of the Triple Crown is held five weeks after the Kentucky Derby, and three weeks after the Preakness Stakes.

Here’s what you need to know about the oldest and longest of the Triple Crown races. It’s also known as the Run for the Carnations.

Editor’s Note: Eastern time is used throughout this story.

How can to watch

Viewers can also watch a live stream of the Belmont Stakes on the race’s website.

Which horses are the favorites to win the Belmont Stakes?

Justify is the favorite among the 10 horses in the race. The horse – ridden by Mike Smith – seeks to become the 13th Triple Crown winner after winning the Kentucky Derby and Preakness Stakes.

Ahead of the race, most betting lines show Hofburg as the second-favorite and Bravazo as third.

Here are the odds, according to Bovada:

• Gate 1: Justify, 4-5

• Gate 2: Free Drop Billy, 50-1

• Gate 3: Bravazo, 7-1

• Gate 4: Hofburg, 4-1

• Gate 5: Restoring Hope*

• Gate 6: Gronkowski, 25-1

• Gate 7: Tenfold, 10-1

• Gate 8: Vino Rossi, 9-1

• Gate 9: Noble Indy, 33-1

• Gate 10: Blended Citizen, 12-1

How long is the race?

The Belmont Stakes is a 1.5-mile-long horse race open to 3-year-old thoroughbreds.

In comparison, the Kentucky Derby is 1.25 miles and the Preakness Stakes is about 1.1875 miles.

The 1973 Belmont Stakes and Triple Crown winner Secretariat holds the Belmont Stakes’ record of 2 minutes, 24 seconds. The mark also serves as the world record on dirt.

How much money is at stake?

People all over the world will gamble millions of dollars in Saturday's Run for the Carnations.

The purse for winning horses at the Belmont Stakes is $1.5 million, and is divided as follows:

• $800,000 to the winner

• $280,000 to the second-place finisher

• $150,000 to the third-place finisher

• $100,000 to the fourth-place finisher

• $60,000 to the fifth-place finisher

• $45,000 to the sixth-place finisher

• $35,000 to the seventh-place finisher

• $30,000 to the eighth-place finisher

What happened at the Belmont Stakes last year?

Tapwrit overtook favored Irish War Cry in the stretch to win by two lengths. It gave trainer Todd Pletcher his third career victory at Belmont.

Pletcher took two of last year's three Triple Crown races, having saddled Always Dreaming to victory in the Derby.

How old is the Belmont Stakes?

The first running of the Belmont Stakes in 1867 at Jerome Park took place on a Thursday.

It predates the Preakness Stakes (first run in 1873) by six years and the Kentucky Derby (first run in 1875) by eight.

In 1890, the Belmont, named for August Belmont I, was moved from Jerome Park to Morris Park, a 1.375-mile track once located a few miles east of what is now Van Cortlandt Park in the Bronx.

The Belmont Stakes was run at Morris Park until Belmont Park opened in 1905.

The Phoenix Stakes at Keeneland was first run in 1831, the Queens Plate in Canada had its inaugural race in 1860, and the Travers started at Saratoga in 1864. However, the Belmont, which will be run for the 150th time in 2018, is third to the Phoenix (166th running in 2018) and Queens Plate (159th running in 2018) in total runnings.

How to arrive

Fans are strongly encouraged to plan ahead, and build significant time into their travels to and from Belmont Park this weekend. Park officials encourage fans to arrive early and to stay late with significant delays anticipated accessing the park.

Those utilizing public transportation to and from Belmont are also encouraged to purchase round-trip admission.

Parking gates open at 8 a.m. Saturday and the gates to Belmont Park open at 8:30 a.m.

The race’s website also outlines which items are permitted and which are banned.

How can to follow the Belmont Stakes on the day of the race

Follow the action using #BelmontStakes throughout the weekend.

There are Facebook, Twitter, Instagram and YouTube accounts for the Belmont Stakes.

Go to the Belmont Stakes' website for more information.

Mark Bergin is a journalist with 10News WTSP. Like him on Facebook and follow him on Twitter and Instagram. You can also email him at mbergin@wtsp.com.