The Belmont Stakes are named after August Belmont, a banker, who made a fortune for himself. Belmont was also involved in horse racing, and his legacy also exists within the history of the Kentucky Derby. One thing the Belmont Stakes does have over the Kentucky is that it is the oldest of the three Triple Crown events. The Belmont is older than the Preakness Stakes by six years and the Kentucky Derby by eight years. In 1890, the Belmont was moved from Jerome Park to Morris Park, which was a mile and three-eighths track - a few miles east of the now Van Cortlandt Park in the Bronx. Morris Park was the venue until Belmont Park's opening in 1905. The Belmont has been run at various distances throughout its long history - it remains one of the most prestigious races on the calendar. Betting Belmont Stakes

Source: Betting Belmont Stakes