The Race of the Drape ("Palio del Drappo") is a historic race with horses galloping uphill, along one of the main roads in Loreto. It is one of the most traditional events of the town, dating back in 700, when the race was held during the annual bovine and equine market organized for the buying and selling of animals. To check the power of the horses, along with their speed and endurance, these animals were galloping along the slope of Montereale.
Over time, the event has taken on a sporty character and takes place every year in the first half of September, over a distance of 450 meters where 9 horses, each representing a district of Loreto, run in three exciting heats. The winners then clash in the final race, and in the end the Drape, the banner that declares the victory of the ward over the others, is assigned. Each district is represented by its own color and a folklore show is guaranteed, also by the other performances that enliven this event.