Why go
Understanding the sequence helps you read a Palio visit: the assigned horse matters, the practice runs prepare horse and jockey for the Campo, and the Corteo Storico comes before the race. Watch the whole progression rather than expecting an ordinary stadium event with only a start and finish.
The full story
The Palio field contains ten horses, one for each participating contrada. Seven places follow a rotation from the previous corresponding race, while three more contrade are drawn. Horses are selected and then assigned by lot, so a ward cannot simply choose its preferred mount. Trial races let horse and jockey become familiar with the temporary track around Piazza del Campo. Before the final contest, the Corteo Storico fills the square with a historical procession and flag bearers. The race itself is three laps and can be over in little more than a minute. Its winner receives the drappellone, a silk banner painted for that particular Palio. This compressed finish is why the surrounding ceremonies and the contrade's long preparation carry so much of the event's meaning. Confirm current dates and spectator arrangements with official organisers before planning a visit.