It is estimated £100m will be spent on bets over the course of the annual event, which attracts some of the best thoroughbreds, jockeys and trainers in the world.
It is also known for its attention-grabbing display of hats.
Here are the photos from Day 2 after the cut:
A racegoer tries to take a sneaky selfie with the Queen
Floral headwear gets one racegoer noticed by waiting press photographers at Ascot Racecourse
The races aren't quite overshadowed, despite the abundance of elaborate head wear
The Queen and Prince Philip were the first of the royals to arrive at the racecourse
Horse racing pundit John McCririck arrives with his wife Jenny at the racecourse
Royal Ascot is known for flamboyant dress and colourful accessories
Prince Charles and his wife the Duchess of Cornwall arrive at Royal Ascot
The Tootsie Rollers pose as a group as they arrive at Ascot Racecourse ahead of the start of the races
Buratino ridden by William Buick won the Coventry Stakes during day one at Ascot Racecourse
Racegoers check form hours before Royal Ascot is due to start
Jackie St Clair opted for a winged display on day one of the event
Prince Andrew and Prince Harry arrived by carriage
Sir Bruce Forsyth and his wife Wilnelia Merced were among the famous faces arriving for the first day of racing
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