While the 2018 FIFA World Cup kicked off in Russia this week, there was another high-profile sporting event that took place in the United Kingdom. The Royal Ascot brought together some the world's finest racehorses at the elite event, where horses compete for over 7 million pounds ( more than $9 million) in prize money.
Founded by Queen Anne on August 11th, 1711 the Royal Ascot has been a British social event for centuries. The massive racecourse will have over 300,000 in attendance, including the Royal family, and is the second largest racing venue in the world after the Indianapolis Motor Speedway.
The event, held 25 miles from London, runs over the course of five days, from June 19th-June 23rd.
It is considered one of the U.K.'s biggest and poshest social event of the year, where racegoers arrive wearing the stylish and flamboyant hats that rival those seen at a royal wedding. CNBC took a look at some of the most ostentatious headpieces from this year's Royal Ascot.