The Kentucky Derby is one of the USA's oldest thoroughbred horse races which first began in 1875.
The race is known in the United States as "The Most Exciting Two Minutes in Sports" or "The Fastest Two Minutes in Sports" for its approximate duration, and is also called "The Run for the Roses" for the blanket of roses draped over the winner.
"I'm pretty excited to attend this event so steeped in American tradition." said Palmer.
"My wife Kit has good Irish luck. Maybe she'll pick the winner."