Today it is raced at a time amenable to spectators, in September, that coincides with the incoming (rising or flood) tide, in contemporary single sculling boats.
The winner's prize is a traditional watermen's red coat with a silver badge added, displaying the horse of the House of Hanover and the word "Liberty", in honour of the accession of George I to the throne.
[2] In addition, each competitor who completes the course receives a miniature of a Doggett's Badge for their lapel in a ceremony at Watermen's Hall, in silver for the winner and in bronze for the others.
He relied heavily upon the watermen of the Thames, who were then the equivalent of the modern taxi driver, to convey him between the various plying stairs near his workplaces in the City of London and his residence in Chelsea.
Rowing wagers were common in those days, but this one was unique: Doggett set the wager to be a traditional red watermens' coat, but, being a "great Whig in Politics", Doggett arranged the race for 1 August each year, and had the coat furnished with a silver badge "representing Liberty", to commemorate the accession to the throne on 1 August 1714 of George I of the House of Hanover.