The most exciting two minutes in sports deserves some serious preparation, which traditionally should include several well-made mint juleps (Churchill Downs reportedly sells over 120,000 of them at the Kentucky Derby each year) and at least one southern belle hat. On Saturday, May 5, the starting gun goes off at 6:24 PM, so be sure to catch a prime seat at one of these watching parties for the 2012 Run for the Roses. (Of note: the Derby falls on Cinco de Mayo this year, so check out our roundup of those festivities for a weekend that's one to remember.)

The Boilermaker: In addition to mint juleps done right, Boilermaker is offering their weekday happy hour from 5–7 PM on a Saturday. Enjoy half-off local beers while watching the race at the upstairs bar.

City Tap House: Cinco de Derby at this West Philly taphouse will celebrate the Kentucky Derby as well as Cinco de Mayo. Drink include $4 craft beers, $5 wines and $5 cocktails. Prizes will be awarded throughout the night.

Field House: This Center City sports bar will have live music and drink specials all day. From 5–7 PM, look for $3 Miller Lites and $5 spiked lemonades.

Khyber Pass Pub: Enjoy classic southern food and drink such as Kentucky Hot Browns and Mint Juleps while watching the race at this Old City pub.

Lemon Hill: This new Fairmount drinkery will serve $7 mint juleps all day long, from 10 AM–2 AM, as well award a gift certificate for the fanciest hat, so be sure to dress to impress in true Derby fashion.

Paramour: The veranda will open for the first time at this Derby bash, with complimentary passed hors d’oeuvres and Woodford Reserve mint juleps, plus prizes throughout the afternoon including best his-and-hers hats.

Reserve Steakhouse: Watch the race on the giant projector screen while enjoying a “Taste of the Derby” buffet and open bar with derby-inspired cocktails, and win gift cards and prizes for being the best-dressed.  A  portion of proceeds benefit the Children's Miracle Network Hospitals. Tickets are $35 for a single and $60 for a couple.

Rex 1516: Head to South Street West to enjoy the southern-themed combo of a mint julep and fried okra with jalapeno aioli combo for $9, or go for the “Burgoo Stew” for $6.  The winner of the best hat contest will walk away with a growler full of beer.

Twisted Tail: Starting at 4 PM, the Headhouse Square whiskey bar will host a Kentucky Derby party and fundraiser for the Fraternal Order of Police with $5 Woodford Reserve mint juleps, $2 Millers and $3 Abita drafts.

Photo via Flickr user Brood_wich