It is run at Haydock Park over a distance of 1 mile, 2 furlongs and 100 yards (2,103 metres), and it is scheduled to take place each year in early August.
The event was established in 1986, and it was initially called the Summer Trophy.
For a period it was sponsored by Burtonwood Brewery, and it was later backed by the property development firm Petros.
The Rose of Lancaster Stakes was formerly contested over 1 mile, 2 furlongs and 120 yards.
The sponsorship of the race was adopted by Betfred when the company bought the Tote in 2011, and in 2012 it was sponsored by Victor Chandler International.