One of the most keenly-awaited contests of the week for racing fans is coming up next at Royal Ascot - the Commonwealth Cup (15:40 BST).

The unbeaten Caravaggio, who won the Coventry Stakes at this meeting a year ago for trainer Aidan O'Brien, is set to go off favourite.

But he faces strong opposition from the Godolphin pair of Blue Point and Harry Angel.

Throw in American challenger Bound For Nowhere, and you have a race to savour.

You can check out the racecard on the BBC Sport website.

Image source, Getty Images

Thousands of Armed Forces personnel have descended on the Royal Meeting today as part of Armed Forces Day.

BBC Radio Berkshire presenter Bill Buckley caught up with two of them, Signaller Elliot Smith & Warrant Officer (Class Two) Matthew Chapman of 94 Berkshire Yeomanry Signal Squadron.

Despite being in such splendid surroundings, it's not all fun and games.

Stuart Bailey
BBC News

It's going to be an anxious few hours for someone in Bedfordshire, who could become a millionaire this afternoon.

At the start of the week they placed a £40 accumulator bet on seven horses winning their races at Ascot.

The first six selections all came in and now the £1m payout rests on 8/1-shot Bound For Nowhere in today's 15:40 race.

Image source, Reuters

The punter, at Ladbrokes in Dunstable, has already beaten these odds:

• Lady Aurelia 7/2
• Barney Roy 5/2
• Qemah 5/2
• Highland Reel 11/4
• Coronet 7/1
• Big Orange 8/1

Nicola McGeady, from Ladbrokes, said: "This punter has made incredible predictions already and today his hopes of becoming a millionaire all comes down to one horse, Bound To Nowhere.

"After making such amazing predictions so far, we can only wish him the best of luck."

Permian (6-1) returned to form after a disappointing run in the Derby to win the King Edward VII Stakes at Royal Ascot.

The Mark Johnston-trained colt won the Dante Stakes at York in May and was sent off an 8-1 chance at Epsom earlier in the month, but was 10th behind winner Wings Of Eagles.

Jockey William Buick shot to the front and stuck to the rail for his third victory of the week.

15:05 result

1 Permian 6-1

2 Khalidi 10-1

3 Crystal Ocean 9-4 Fav

12 ran

Also: 25-1 Raheen House 4th

Image source, Reuters

John Hunt
BBC Radio 5 live horse racing commentator

Salouen (7-1), 15:05 BST, Royal Ascot

"He was going really well in the Derby earlier this month before being shuffled to the back of the field and experiencing more trouble later on.

"Salouen was 13th but could easily have finished fifth or sixth. I'd love him to run really well."

Sir Michael Stoute has been one win away all week from becoming Royal Ascot's leading all-time trainer but still awaits his first victory of the 2017 meeting.

The Newmarket trainer boasts a leading chance in the King Edward VII Stakes (15:05 BST) with Crystal Ocean, the mount of Andrea Atzeni.

The race features the first of two runners owned by the Queen on Friday as she also seeks her first winner of the week - Call To Mind, trained by William Haggas, is about a 16-1 shot.

Mainstream is around 5-1 in the concluding Duke of Edinburgh Stakes (17:35) for Stoute, who sits level on 75 Royal Ascot winners with the late Sir Henry Cecil.

You can check out the racecard on the BBC Sport website, with commentary on BBC Radio 5 live sports extra.

Image source, Getty Images

It's Armed Forces Day at Royal Ascot today.

The racegoers are joined by 2,500 invited members of the Armed Forces, and a few others who are getting in the spirit.

Image source, Reuters

Different League caused a 20-1 surprise when landing the Albany Stakes.

The filly, trained in France by Matthieu Palussiere, won under Antoine Hamelin from favourite Alpha Centauri.

Bought cheaply in racehorse terms for around £8,000, she was given a warm welcome by her Irish owners including Con Marnane after netting the first prize of more than £45,000.

14:30 result

1 Different League 20-1

2 Alpha Centauri 2-1 Fav

3 Take Me With You 20-1

20 ran

Also: 66-1 Mistress Of Venice 4th

Image source, Reuters

Irish trainer Jessica Harrington hopes to continue a memorable year with victory in the opening race at Royal Ascot this afternoon.

Harrington has achieved some notable wins over the jumps - including Sizing John in the Cheltenham Gold Cup and Our Duke in the Irish Grand National.

Alpha Centauri, to be ridden by Colm O'Donoghue, represents her on the flat in the Albany Stakes (14:30 BST). It is her third runner of the meeting - Brother Bear finished fourth (Coventry Stakes) and Torcedor fifth (Gold Cup).

You can check out the racecard on the BBC Sport website, with commentary on BBC Radio 5 live sports extra

Image source, Getty Images

It had been coming.

Blue had been the bookies' favourite since the very start of the week, and today, Her Majesty finally wore it.

Thousands push right up to the barriers of the racecourse to get a snap of the Queen.

Then a rousing 'hip hip hooray' comes from the crowd, a seemingly new tradition for the Royal Meeting.

Image source, ITV

After three days and 18 races, Ryan Moore (who else?) is the leading jockey at Royal Ascot 2017.

Moore, bidding to become top rider for the seventh time in eight years, has been placed in half the races run so far - with three wins, four seconds and two thirds.

He rides mainly for Aidan O'Brien, who tops the trainer standings after two victories, five runners-up and two third-placed finishes with 12 races to go.

You can check out the results and schedule for the week via this handy link, tune in for some Ascot chat right now on BBC Radio 5 live sports extra and follow updates on our live page.

Image source, Getty Images

Princess Peggy has been passed fit to run by the vet in today's opening Albany Stakes (14:30 BST) at Royal Ascot after an unusual injury scare.

The two-year-old filly, trained in the United States by Wesley Ward, fell after a collision with a cyclist on Wednesday.

She has recovered after suffering superficial abrasions in the incident but is rated a 33-1 outsider for the race.

Image source, Getty Images

Adam Whitty
BBC South

A big 'ooooooooooh' fills the Parade Ring at Royal Ascot as the Queen emerges.

If I'm not mistaken, that is a baby blue outfit.

I am willing to be corrected however...

Image source, ITV

There are two runners owned by the Queen as she seeks her first winner of the week - Call To Mind, in the King Edward VII Stakes (15:05) and Mainstream in the Duke of Edinburgh Stakes (17:35).

Mainstream is among the favourites at about 5-1 in the final race, while Call To Mind is around a 16-1 shot.

Last year's Coventry Stakes winner Caravaggio returns in the Commonwealth Cup (15:40) for trainer Aidan O'Brien. The unbeaten colt's rivals will include the Godolphin pair of Harry Angel and Blue Point.

Image source, Getty Images

The Queen will be making her way along the racecourse shortly to begin the day's racing action in earnest.

Her Majesty is the only member of her immediate family involved today.

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Carriage One: The Queen, Captain David Bowes-Lyon, Mr Erik Penser, Mr Thomas van Straubenzee.

Carriage Two: The Hon. Peter Stanley, The Hon. Mrs Stanley, Mr John Warren and The Lady Carolyn Warren.

Carriage Three: Mr John Gosden, Ms Rachel Hood and Mr and Mrs Nicholas Wingfield Diby.

Carriage Four: Wing commander Sam Fletcher, Mrs David Bowes-Lyon and Mr and Mrs Charles Butter.

More than 2,500 members of the Armed Forces have been invited to Royal Ascot today.

They have attracted quite a bit of attention from the photographers.

Image source, Getty Images

Image source, Getty Images

Image source, Getty Images