We are less than six weeks away from the Breeders' Cup and I, for one, am so excited I can hardly take it. Next to the Kentucky Derby, and the Belmont if there is a Triple Crown on the line, this is the biggest and best day of horse racing of the year. For serious fans of the sport the event offers so much that the risk of overload is high. It's the equivalent of the Super Bowl, World Series, Stanley Cup and NBA Finals all playing out on the same day. The very best horses in the world are aimed at this event, they are at their peak, and we get to see who the best is on the day. Perfect.

To get ready for the big day(s), here's a primer of what you need to know:

When: For the first time ever, the 2007 Breeders' Cup will be spread over two days. Three major races, and a number of undercards, will be run on Friday, Oct. 26. The main day, with the schedule of races you are used to, will be Saturday, Oct. 27.

The Races: On Friday, the three new races are the Dirt Mile, the Filly and Mare Sprint, and the Juvenile Turf. Each has a purse of $1 million, and each fills a gap in the original program. It will be particularly interesting to see the impact the Dirt Mile has on the traditional sprint. Some horses may enjoy the longer distance.

Saturday has six $2 million dollar races - the Juvenile and Juvenile Fillies at 1 1/16 miles; the Filly and Mare Turf at 1 3/8 miles; the six furlong Sprint; the Mile, which is on the Turf; and the 1 1/8 mile Distaff. The Turf brings the best grass horses from Europe and North America together to race for $3 million over 1 1/2 miles. Finally, the big one is the Classic - the classic distance of 1 1/4 miles with $5 million waiting at the finish line. It's the second richest race in the world after the Dubai World Cup, and the second most prestigious after the Derby. Though the Classic will be last, the running order of the rest of the races will officially be set 10 days before the race.

Field selection: There are new ways for horses to earn a spot in the field this year. For the first time, horses could compete in the Breeders' Cup Challenge. There were 25 races held since April, and the winner of each race is guaranteed a spot in the appropriate Breeders' Cup race. Half of each field will be made up of those winners and the horses with the highest number of Graded Stakes Points earned over the racing season. The other seven spots are chosen by a panel of experts, and the panel is free to use whatever criteria it wishes. This is done so that the best horses in the world, in the opinion of the panel, can run regardless of how much racing experience they have had in graded stakes.

Betting: This is the important part. For a lot of reasons the Breeders' Cup is heaven for horse players. Over $140 million was bet on the single day of races last year, so the pools are massive and there is a lot of dumb money being thrown around. That makes for huge payouts, especially if the favorites get beat. Most of the races have full 14-horse fields (the Juvenile Turf is capped at 12 runners), so there is almost always value to be found somewhere.

The biggest draw of the day for betting is the exotics. There will be six Daily Doubles over the two days, a Pick Three on every race, two Pick Fours, an early Pick Five each day, and both cards finish off with a late Pick Six. On Saturday the two Pick Fours have guaranteed pools of $2 million each, and the Ultra Pick Six is worth at least $3 million with a mandatory payout. Everyone with an interest at all in the exotics throws money into the pools on that day for a shot at the big payday.

Intra-race betting is also potentially lucrative. Every race on both days has an Exacta, Trifecta, and Superfecta, and for the first time ever at the Breeders' Cup the 10-cent Superfecta will be available.

Advanced wagering starts Thursday at noon, so you can get your bet down really early if you have some good reason to do so (like you are afraid you will be too drunk to do it by post time).