It is held annually, usually in January, at the Suphachalasai Stadium in Bangkok, Thailand.

Apart from the match itself (which is not played by strictly varsity teams, but include alumni), the event also focuses on card stunts performed by both sides' audiences, cheerleading, and the opening ceremony parades, of which Thammasat's politics-mocking sequence is an anticipated highlight.

The first match was held on 4 December 1934 at the Sanam Luang field, with Thammasat University as the host.

There was a ticket fee of 1 baht, the proceedings of which went to the Anti-tuberculosis Society of Thailand; after-expense earnings from the match have since traditionally been donated to charity.

[4] The match has been cancelled several times, due to the flooding of Bangkok in 1942, World War II and its aftermath from 1944–1948, the Manhattan Rebellion in 1951, the aftermath of the 14 October 1973 uprising and the 6 October 1976 massacre in 1973–1975 and 1977, political crisis in 2014, and the death of King Bhumibol Adulyadej in 2017.