It is held annually in late October or early November at a different racetrack in the United States or Canada as part of the Breeders' Cup World Championships.
The current purse is US$2,000,000 making it the most valuable race for two-year-olds in North America.
The Breeders' Cup Juvenile is typically the first time that the best colts from the various racing circuits across North America (in New York, Kentucky and California in particular) meet up with each other.
The winner often earns the Eclipse Award for Champion Two-Year-Old Male Horse, and becomes one of the early favorites for the next year's Kentucky Derby.
[1] In 2006, the National Thoroughbred Racing Association (NTRA) wrote in Part 2 of their special series titled Spiraling To The Breeders' Cup that "Arazi turned in what many still consider to be the single-most spectacular performance in Breeders' Cup history."