Inaugurated in 1846 it originally attracted top-class racehorses in the 19th and early 20th century, but today its importance has been eclipsed by larger stakes races with more valuable purses.
Beeton ran The Dolphin pub, near to St Mary-le-Bow church in London, an establishment so well known as a betting premises, it became known as 'the Tattersalls of the East End'.
Together with fellow licensees and bookmakers, he raised a collection of £300 to sponsor the race, which for its first year attracted a field of 29 runners.
In 1985 legislation was passed allowing the racecourse to fence off part of Epsom Downs and charge for public admission to the in-field.
Nowadays, the American Metropolitan Handicap, which since 1904, with a few exceptions, has been run at Belmont Park, far eclipses its British counterpart.