In pictures: Horse racing fanatics head to Royal Ascot in their best outfits

HRH Queen Elizabeth II arrives on day two of Royal Ascot 2017 at Ascot Racecourse on June 21, 2017 in Ascot, England
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Every year during the month of in June, horse racing enthusiasts descend upon the British town of Ascot, to see if they can win big on the races and show off the latest fashion trends.

Royal Ascot is beloved by many, with some 300,000 racegoers attending the five-day event every year – including the royal family, who always make sure the time honored tradition is part of their social calendar.

As the internationally renowned event sees people from across the world descend upon the British town, CNBC takes a look at some of the glitz and glamor seen during the event.

A royal day out

Queen Elizabeth II, Princess Eugenie of York, Prince Andrew, Duke of York, Princess Anne, Princess Royal and Princess Beatrice of York are seen in the Parade Ring as they attend Royal Ascot 2017 at Ascot Racecourse on June 22, 2017
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Ascot racecourse has a very majestic upbringing. The racecourse itself dates back more than 300 years and was founded by Queen Anne in 1711; however it would take a while longer for "Royal Ascot" to materialize as an event. Several monarchs have since carried on the tradition of visiting and supporting the racecourse.

Fast forward and it has become a favorite for the current British monarchy, with the Queen being an owner, breeder and long-lasting fan of thoroughbred horses.

Members of the royal family make a regular appearance at the event, with the Royal Procession – where the queen and members of the her family arrive along the racing track in horse-drawn carriages – traditionally taking place each day of Royal Ascot.

Top hats for a top day

Catherine, Duchess of Cambridge and Prince William, Duke of Cambridge attend Royal Ascot 2017 at Ascot Racecourse on June 20, 2017
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One of the most iconic traditions of Royal Ascot is the top hat. While not every male attendee wears a top hat, some ticket areas of the racecourse – which tend to cost more – enforce a strict dress code, stating that the accessory must be worn.

Standing out from the crowd

Racegoers attend Royal Ascot at Ascot Racecourse in June 2017
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When it comes to Royal Ascot, fashion is the name of the game. Whether racegoers rent or buy their outfits and accessories, making a statement is definitely a time honored tradition. That's especially true, when it comes to the hat designs.

Security in full force

An armed police officer patrols around Royal Ascot 2017 at Ascot Racecourse on June 21, 2017 in Ascot, England.
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A popular event such as Royal Ascot isn't alien to having security on site. In light of the recent U.K. terror attacks however, security measures have been intensified at this year's event.

Extensive dog, bag and physical search procedures for attendees' protection have been implemented across the racecourse's entrances, to ensure safety at the event.

The horse racing event also chose to open on the first day with a minute's silence, in light of the recent tragedies.

The queen takes center stage

Britain's Queen Elizabeth II waves as she travels by horse-drawn carriage to arrive on day one of the Royal Ascot horse racing meet, in Ascot, west of London, on June 20, 2017.

While seeing any member of the British royal family would leave one star-struck, Queen Elizabeth II tends to cause the most excitement among racegoers.

For starters, what the queen wears to each day of the event tends to get people talking, with people even placing bets on what color the monarch's hat will be at certain days of Royal Ascot.

Meanwhile, being an owner and breeder of several thoroughbred horses, Royal Ascot will often see some of the queen's horses race during the five-day event. You can normally spot the horse by its jockey, who wears the queen's racing colors: a purple body with gold braid, scarlet sleeves, and black velvet cap with gold fringe, according to the racecourse's website.

Place your bets

Le Brivido with Pierre-Charles Boudot up wins the Jersey Stakes at Ascot Racecourse on June 21, 2017 in Ascot, England.
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During Royal Ascot, racegoers can often be found near the bookmakers, looking at the odds for each horse to see whether they can win big and end the day on a profit.

Strict dress code

Views of the crowd on day 1 of Royal Ascot 2017 at Ascot Racecourse on June 20, 2017 in Ascot, England
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Appearance is key at Ascot Racecourse. According to a 2014 report by Deloitte, attendees spent a total of £33 million ($42 million), solely on fashion and beauty treatments for the racecourse's events during 2013.

In order to uphold Royal Ascot's reputation and prestige, the racecourse announced in 2012 that it was tightening its dress code for its top enclosures, meaning both men and women had to wear smart attire, and either have to – or are recommended – to wear a hat or headpiece, depending on the ticket arena.

Outside of Ascot week, these rules tend to be relaxed somewhat however, smart attire is still advised or enforced.

Ladies Day

Racegoers mingle around the parade ring as they attend Ladies Day at the Royal Ascot horse racing meet, in Ascot, west of London, on June 22, 2017.

Traditionally, the Gold Cup – supposedly "Royal Ascot's oldest and best loved race" – tends to take place on the third day of Royal Ascot, colloquially known as Ladies' Day.

Aside from the highly coveted Gold Cup, Ladies' Day is seen as one of the most renowned moments for attendees to dress in their best race-going outfits. If you're an attendee, expect to come across many fancy hats and colorful dresses.

Picnics in the sun

Racegoers enjoy a picnic in front of the grandstand on Ladies Day at the Royal Ascot horse racing meet, in Ascot, west of London, on June 22, 2017.

Watching the horses race by isn't the only major event many people partake in leisurely at Ascot. For many who choose to view the races from the ground level, having a picnic is quite a familiar sight.

A favorite among the famous

Royal Ascot 2017: Piers Morgan | Nathalie Emmanuel | Bernie Ecclestone
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Being such a prestigious event in the sporting social calendar, it's not uncommon to see a raft of celebrities at Royal Ascot each year.

This year, Piers Morgan (TV presenter), Bernie Ecclestone (former Formula One Group CEO), Jeremy Irvine (Actor), Nathalie Emmanuel (actress) and Stephanie Del Valle (Miss World 2016 winner), were all spotted at the event.

The annual gathering frequently draws in famous faces. Previous attendees include John Goodman, Elizabeth Hurley, Helen Mirren, Jeremy Irons, Joan Collins, Rod Stewart, and Stephen Fry.