The Indianapolis 500-Mile Race, also known as the Indianapolis 500, the Indy 500 or The 500, is an American automobile race, held annually over the Memorial Day weekend at the Indianapolis Motor Speedway in Speedway, Indiana. The event lends its name to the IndyCar class, or formula, of open-wheel race cars that have competed in it. The event, billed as The Greatest Spectacle in Racing, is considered one of the three most significant motorsports events in the world.