The L&N Federal Credit Union Great Balloon Race is one of Louisville's beloved family traditions. The Saturday morning race gives spectators young and old more chances to take in the exhilarating view of boundless colors and shapes.

The Great Balloon Race is a Hare & Hound Race. This type of race is when all the balloons launch from the same site (Bowman Field). One balloon takes off first and is the Hare balloon. The other balloons are called the Hounds, and they will launch at a predetermined time after the Hare (usually 5 to 10 minutes after). The Hare lands at a suitable site and lays out a large fabric X, usually about 50 feet in diameter. The Hound balloons attempt to drop their markers as close to the center of the X as possible. The closest marker achieves the highest score.

Just 7 balloons flew in the inaugural race from Iroquois Park in 1973.