Royal Ascot: Queen celebrates with Beatrice and Eugenie as her horse Estimate wins the Gold Cup Queen Elizabeth did not wear the blue, as predicted, instead opting for a summery lavender and floral ensemble Joined in Royal procession by Prince Andrew, Peter Phillips, and Peter's wife Autumn Also in attendance were Peter Phillips' mother Princess Anne, and Princesses Beatrice and Eugenie Prince Philip is still recovering after his recent hospitalisation The Queen looked ecstatic on the third day of Royal Ascot today as her horse Estimate romped home to win the meet's prestigious Gold Cup. But, perhaps, not quite as thrilled as her jubilant granddaughter Princess Beatrice. The dark bay thoroughbred filly was the 7/2 favourite and won by a length - much to the monarch's delight, who became the first reigning monarch ever to win the trophy. As Princesses Beatrice and Eugenie jumped up and down in excitement in the royal box, the Queen clapped her hands as the horse crossed the finish line first and beamed at her racing manager, John Warren, who was sitting beside her. Estimate's achievement made sporting history as the Queen became the first reigning monarch to win the Gold Cup in its 207-year history. The Queen cannot hide her delight as Estimate romped home to win the trophy Sisters Princess Beatrice, left, and Princess Eugenie, right, can't control their excitement as their grandmother's horse Estimate wins the Gold Cup The Duke of York presents his mother with a trophy after her horse Estimate won the Gold Cup during day three of the Royal Ascot, and the Queen cannot hide her delight The Queen, receiving the Gold Cup from her second eldest son Andrew, is the first reigning monarch to win the trophy in its history The Queen was hoping Estimate would surpass her achievement of last year when she won the Queen's Vase at Royal Ascot. The horse lived up to her billing as favourite and as the Gold Cup, raced over 4,000 metres, drew to a close, she made her way from the middle of the pack, took on the front runners and beat them to the line. The victory is an added boost for the Queen who has been attending the famous race meeting without the Duke of Edinburgh, who is convalescing at Windsor Castle after exploratory abdominal surgery. Her grandson Peter Phillips said: 'It's amazing, this is her passion, every year she strives to have winners and to have the big one at Royal Ascot means so much to her and to everyone involved in racing. A win like this is truly, truly special. After revealing that the Queen had been congratulated by fellow monarch and racehorse enthusiast, Sheikh Mohammed bin Rashid Al Maktoum of Dubai, he added: 'Everyone is just thrilled... to see a result like this is just brilliant.' The Queen was scheduled to hand out the winning trophies for the Gold Cup but the Duke of York stepped in to do the duties The Queen gets excited as Estimate runs the race, and Jockey Ryan Moore on the horse after wining at Royal Ascot From left to right, Sir Michael Stoute, the trainer, The Queen and the jockey Ryan Moore Queen Elizabeth II talks with Jockey Ryan Moore after the Queen's horse Estimate won The Gold Cup on Ladies' Day during day three of Royal Ascot The Queen smiles proudly at her horse, Estimate, after he won the Gold Cup From left, jockey Ryan Moore, racing manager John Warren, and the Queen Estimate ridden by jockey Ryan Moore wins the Gold Cup during day three of the Royal Ascot meeting at Ascot Racecourse, Berkshire The Queen was scheduled to hand out the winning trophies for the Gold Cup but the Duke of York stepped in to do the duties. The monarch could not stop smiling as she went down to the parade ring for the ceremony and chatted with her jockey Ryan Moore and trainer Sir Michael Stoute. Estimate and her owner the Queen proved popular with the punters who flocked to the stands to watch the presentation. David Cameron praised the monarch's win in a tweet: 'Huge congratulations to Her Majesty for Estimate's victory at Royal Ascot - first time ever a reigning monarch's horse has won the Gold Cup.' The Queen greets her horse Estimate in the parade ring after it won the Gold Cup The Queen's horse Estimate, pictured here with Her Majesty in the Winners Enclosure claimed victory and it is the first time in the race's 207-year history that it has been won by a reigning monarch The Queen in the winners enclosure afterwards William Hill said it was left reeling after the win as it had paid out £1.5 million to punters who backed Estimate. The bookmakers said odds for the Queen's horse were 7-1 this morning before shortening to 5-1, while at Royal Ascot it was also the favourite with odds of 7-2. A spokesman said: 'This was a true patriotic punt on the Queen's runner Estimate, and her victory has handed us a stinging £1.5 million payout. Her Majesty is flying the flag for British bettors today. Despite scooping £155,960 in prize money as the owner, the Queen will not have made anything from a small wager as she does not bet. The Queen was meant to be handing out trophies, but her son Prince Andrew had to step in to give her hers The Queen nervously watches as her horse Estimate rides in the Gold Cup The Queen didn't wear blue today as bookmakers had expected, instead choosing a lavender purple overcoat and hat, a floral dress and black gloves The Queen and Princess Anne watch the races on Ladies Day The Queen chose her daughter-in-law Camilla to be her carriage partner for the first two days of Royal Ascot, due to the absence of her husband Philip who is at home recovering from a recent hospitalisation. But today, on Ladies Day, she chose to give some other members of her family a turn in the hot seat of the Royal Procession - and her middle son Prince Andrew, her grandson Peter Philips, and Peter's wife Autumn were her lucky guests. Wearing not the bookmakers' favourite of blue but, instead, a summery lavender ensemble, Her Majesty looked content and relaxed as her carriage made its way from Windsor to the Berkshire racecourse, past the main arena and towards the Royal enclosure and the Royal box. Following her carriage were others holding other members of the Royal family, including Peter's mother Princess Anne, and Prince Andrew's daughters Princess Beatrice and Princess Eugenie. Prince Andrew's daughters watch excitedly as Estimate runs around the track Princesses Beatrice and Eugenie look thrilled at the result of the Gold Cup race The Queen, wearing a lavender ensemble, rode in the Royal Procession with her grandson Peter Phillips and his wife Autumn. who chose to wear a fitted green dress and wide-brimmed hat The Queen was predicted to wear blue on Ladies Day, but instead she chose a pale lavender summer coat on top of a floral dress, with a diamond brooch and matching lavender hat with pretty summer flower embellishment, while Autumn Phillips looked delighted to be attending the event, and looked elegant in a mint-green fitted dress Racegoers take photographs of the Queen, Peter and Autumn Phillips and Prince Andrew, as the Royal carriage procession arrives at the Parade ring outside the grand stand on Ladies' Day during day three of Royal Ascot Queen Elizabeth II and Autumn Phillips arrive in the Royal Carriage Procession on Ladies' Day during day three of Royal Ascot at Ascot Racecourse While Her Majesty chose a purple summer coat over a floral dress, accessorised with a matching purple and summer flower hat and a diamond and purple gemstone brooch, Autumn dressed fashionably in a green bodycon dress with a large-brimmed cream hat. Wearing black leather gloves, the Monarch waved to the waiting crowds as the carriage entered the parade ring. Her daughter Anne shared the second carriage with husband Vice Admiral Sir Tim Lawrence, Princess Beatrice and The Lord Fellows. The Princess Royal donned pale blue and cream hat and jacket, while Beatrice looked stylish in a black dress with beaded detail at the neck and a tan-coloured hat, with a tartan blanket over her knees. Princess Eugenie wore a pale silvery-white jacket and matching Nerida Fraiman hat over a turquoise dress as she followed along with The Duke and Duchess of Argyll and the Hon. Hugo Palmer. Despite the grey skies, the racecourse was awash with colour as racegoers wore an array of bright hats and feathery fascinators. Although it threatened to rain as the Queen entered the course, the weather held off and the few drops of water didn't put off punters in the Parade Ring. The Princess Royal looked demure in an off-white outfit while Princess Beatrice looked elegant in a black and gold dress and small straw hat Princess Eugenie chose to wear white and green, while her elder sister Beatrice opted for an extremely sophisticated black and gold ensemble The crowds cheer as the Queen weaves her way towards the Royal enclosure accompanied by the Duke of York, Peter Phillips and Autumn Phillips for day three of the Royal Ascot meeting at Ascot Racecourse, Berkshire The Queen - an ardent horse-racing enthusiast who has herself owned 20 Royal Ascot winners - attends every day of the five-day Berkshire meet, travelling up from Windsor Castle every day for the 2pm Royal Procession. Today is Ladies Day, which has always been an opportunity for women to really go to town in the costume department - without breaking the strict dress code rules enforced in 2012 that might lead to them being evicted from the Royal enclosure. The Queen's sartorial selections have themselves been the subject of much excitement in betting shops across Britain, and she has now three times inadvertently foxed bookmakers by wearing colours they did not expect her to. She has also been applauded by gamblers for wearing more than one colour in an outfit or hat, and even a shades of questionable hue, meaning bookies have had to pay out on more than one 'winner'. Two of the Queen's children, Princess Anne and Prince Andrew, accompanied their mother to Ladies Day The Royal party make their way towards the Royal box so the races can begin Prince Andrew accompanies his eldest daughter Princess Beatrice to the Royal box, left, and the Queen looked to be in high spirits at the Berkshire meet, right Crowds wield cameras and cameraphones as the Royal procession makes its way past the enclosure on Ladies Day On Tuesday Her Majesty appeared in a pale pink ensemble, but bookmakers couldn't decide if it was peach or pink, so paid out on both. Yesterday, on Wednesday, the Queen and her daughter-in-law Camilla, Duchess of Cornwall, both opted for complementary shades of spearmint green as they rode past crowds in the Royal Procession. But this time it was Her Majesty's jolly, multicoloured hat left bookies a little put-out. Jessica Bridge of Ladbrokes said: 'We think Her Majesty is taking us for a ride. These double and triple payouts are giving us a major headache but the Queen is coining it in for her loyal supporters. Blue was the favourite to be her colour of choice on Ladies' Day tomorrow at 3/1, or 4/1 she would opt for a summery yellow number. 'It seems unlikely but it's 100/1 she throws us another curve ball with a patriotic Union Jack-themed hat,' said Ladbrokes. Alongside the Royal family there was some celebrity royalty in attendance, too. Princess Beatrice waves to the crowds as she and her aunt, the Princess Royal, make their way towards the Royal box Princess Eugenie looked pretty in a turquoise dress and pale silver jacket and hat, accessorised with a small coral clutch and nude strappy sandals, while the Queen went for a lavender overcoat and floral summer dress Princess Anne and Autumn Phillips walk through the enclosure Racegoers braved the drizzle to come out for Ladies Day Runners make their way down to post for the Norfolk Stakes on Ladies' Day during day three of Royal Ascot Female racegoers enjoy the atmosphere during Ladies' Day of the Royal Ascot meeting at Ascot Racecourse, Berkshire Among the celebrities enjoying a day at the races was queen of scones Mary Berry, and Olympic cycling champion and Strictly Come Dancing star Victoria Pendleton. The Olympian wore a black dress with red flower print, topped off with a red hat as she was escorted into the Royal Enclosure by racecourse staff. 'I'm really excited to be here,' she uttered as she was whisked into the most prestigious area of the racecourse. As well as actual royalty, Royal Ascot always attracts plenty of celebrity royalty, and this year queen of baking Mary Berry, left, and velodrome princess Victoria Pendleton, right, both made appearances at Ladies Day Ladies Day at Royal Ascot is always an opportunity for women to really go to town in their dressing up boxes Pixie Lott opted for a slanted wide-brimmed black hat with a pink rose to match the print on her summer dress, left, while Made In Chelsea's Cheska Hull wore a cream fitted dress accessorised with mahogany hat and bag, right Royal Ascot: The five-day Berkshire meet steeped in tradition and history Ascot stages 26 days of racing throughout the year, but the five-day Royal Meeting, held annually in June, is the most famous - a key date in the social calendar which combines venerable tradition with fashionable panache. Hordes of well-dressed racegoers descend on the Berkshire town, and many enjoy the traditional Car Park Picnic. The first race meeting ever held at Ascot took place on 11 August 1711 and was instigated by Queen Anne, but it was with the accession of George II that the race became the second most popular in England. Originally established to ensure privacy for members of the royal family, the Royal Enclosure dates back to the 1790s, when a separate Royal Stand was erected. The exclusive Royal Box, commissioned by George IV in 1822, was only accessible to guests brandishing a royal invitation. King George V and Queen Mary, accompanied by the Prince of Wales and Prince Henry, arriving at Royal Ascot meeting at Ascot Racecourse in 1927 To gain entry to the Royal Enclosure, race-goers must obtain a sponsorship form and have it signed by someone who has attended the Royal Enclosure for 4 years. Convicted criminals and undischarged bankrupts were barred from the Royal Enclosure. Divorcées have been allowed in since 1955. The five-day meeting commences on a Tuesday and each day begins with the Royal Procession - the arrival of The Queen and the Royal party in horse-drawn landaus, which parade along the track in front of the race-goers. The open-top carriages drive across Windsor Park, entering the racecourse by the Golden Gates. The Royal Procession dates back to the 1820s and the reign of King George IV, at which time it was referred to as the Royal Parade or Royal Drive. Tuesday features The Queen Anne Stakes, The St James's Palace Stakes and The King's Stand Stakes. On Wednesday you can see The Prince of Wales's Stakes. The arrival of King George VI and the Queen Mother at Royal Ascot in 1948 The prestigious Gold Cup event is held on Ladies' Day (Thursday), when women entering the Royal Enclosure must wear a hat that covers the 'crown of their head'. Ladies' Day at Royal Ascot can trace its roots back to 1823, when an anonymous poet described the Thursday of the Royal meeting as 'Ladies' Day... when the women, like angels, look sweetly divine.' On Friday it is the turn of the Coronation Stakes, and the Meeting ends on Saturday with the Diamond Jubilee Stakes. Royal Ascot's much loved tradition of 'singing round the bandstand' dates to the 1970s under the stewardship of Lady Beaumont, wife of the then Clerk of the Course. The after-racing medley of British favourites and flag waving was an immediate hit, and thousands of racegoers stayed on and joined in. Now, traditional singing is listed as part of the day's formal proceedings and songbooks and flags are handed round. The Queen has owned 20 winning horses at Royal Ascot. King George and the Queen Mother arrive in the procession at Royal Ascot in 1949 From Debretts and The Official Website of the British Monarchy