17 photos of people having the time of their lives at the Kentucky Derby

The 142nd Kentucky Derby took place this weekend at the Churchill Downs racetrack in Louisville, Kentucky.

The derby has many long-standing traditions - the parties on the infield, the extravagant hats, the marching band's rendition of "My Old Kentucky Home", and, of course, the tens of millions of dollars that are bid on the horse races.

One lasting tradition that is sure to get the party going is the mint julep. The perfect mix of bourbon, ice, sugar, and mint has been the derby's signature drink for nearly a century.

Ahead, take a look at the debauchery that happened as the heavily favored Nyquist beat the rest of the horses to the finish line.