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The Palio di Siena (known locally simply as Il Palio) is a horse race held twice each year on July 2 and August 16 in Siena, Italy, in which ten horses and riders, bareback and dressed in the appropriate colours, represent ten of the seventeen Contrade, or city wards. The Palio held on July 2 is named Palio di Provenzano, in honour of Madonna di Provenzano, who has a church in Siena. The Palio held on August 16 is named Palio dell'Assunta, in honour of Assumption of Mary.

A magnificent pageant, the Corteo Storico, precedes the race, which attracts visitors and spectators from around the world. The historical parade is a lively display of rich medieval costumes which date back to the time period from 1430 to 1480; their colours are as bright as one may fancy.

The race itself, in which the jockeys ride bareback, involves circling the Piazza del Campo, on which a thick layer of dirt has been laid, three times and usually lasts no more than 90 seconds. It is not uncommon for a few of the jockeys to be thrown off their horses while making the treacherous turns in the piazza and indeed it is not unusual to see unmounted horses finishing the race without their jockeys. The Palio in fact is won by the horse who represents his contrada, and not by the jockeys.