WATCH The Kentucky Derby: 'The most exciting two-minutes in all of sports'

The Kentucky Derby, and all the parties and pageantry that surround it, take place this weekend in Louisville. Jay Gray reports.

WATCH THE KENTUCKY DERBY LIVE: http://horsestream.nbcsports.com

(NBC News) The countdown to the most exciting two-minutes in all of sports, the Kentucky Derby, is underway.

The ponies don't run until Saturday evening, but for fans the spectacle of the derby begins long before the horses are in the gate.

Jockeys say even the horses can sense the energy and excitement of the weekend during training.

"They're usually pretty fired up when they step on the track, and obviously they feel the energy," says Channing Hill.

That energy comes from a crowd that's not always focused on the track.  The derby is a place to be see and be seen.

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