The Grand National conjures up images of thundering hooves, ladies decked out in their finery and odds-defying bets.
But for Liverpool, where the National is run, the race has far-reaching benefits that will go unnoticed by the 150,000 punters who descend on Merseyside for the three day festival in April.
For the Grand National opens up huge economic opportunities for the city – and it’s learned to take full advantage.
In 2011, the latest available published figures, tourist board officials for the Liverpool City region put a value on the Grand National to the local economy of £10 million.
And everyone wants a piece of the action. Savvy business people recognise that betting on the Grand National is not the only potential money spinner.
Bars, restaurants, hotels, shops and tourist attractions are all cashing in on the event. Ladies who live in the area are booking out spas and salons in preparation for the big day and they’re keen to spend their winnings during a night on the town afterwards.
Businesses go all out during the festival to showcase the city because they know a warm welcome, top class hospitality and world-beating facilities will draw punters back for a non-racing break.
In fact, many of Liverpool’s major businesses choose to entertain their top clients at the Aintree festival. They see it as a chance to hobnob in a prestigious environment and allow customers to see for themselves just what Liverpool is capable of.
Private boxes and corporate packages have become increasingly popular as race-course bosses recognise the value of the Grand National to local business.
The festival has also attracted massive sponsorship. For nine years John Smith’s was the Grand National sponsor before Merseyside drinks company Crabbies took over the reins in 2014. But companies are falling over themselves to be associated with the event including Matalan, Silver Cross and National Express.
Aintree has forged other business links within the local community too. Last year it teamed up with the city’s flagship shopping area Liverpool One and named it the festival’s official style partner.
And, for the first time in its 175-year history, racegoers were able to buy festival tickets in the heart of the city thanks to a partnership with TicketQuarter.
This year, the festival plays host to the first ever Grand Women’s Summit. Held on Ladies’ Day, it is billed as a celebration of the role women have played in racing, sport and business.
A panel discussion forms the heart of the event and includes guests such as Rose Paterson, chair of Aintree race course and the first woman to head up any UK race course.
The event also includes a presentation of the Women in Racing bursary award which will give up to £2,000 for training or career development, business start up or marketing costs, for example.
Businesses have been quick to jump on the Grand National band-wagon. Last year some 600 million people watched the race all around the world.
And those are figures that are difficult to ignore.