Today the Albany Stakes is a Group 3 flat race over 6 furlongs open to two-year-old fillies on the fourth day of the Royal meeting. In its present format it was first established as a Listed race, the Henry Carnavon Stakes, in memory of Henry Herbert, 7th Earl of Carnarvon, the Queen's racing manager who died in September 2001, but was renamed the Albany Stakes in 2003 and was promoted to Group 3 status in 2005. However, historically there was a race called the Albany Stakes for 3-year-olds which was first run at the Ascot Heath meeting on Wednesday 16th June 1813 over the Old Mile course.
Early history:- The inaugural running of the Albany Stakes for 3-year-olds over the Old Mile took place on Wednesday 16th June 1813 when won by Mr Blake's Vale Royal, a bay filly by Sorcerer out of Orangeade, who defeated the Duke of York's Giles colt to win 300 Guineas (equivalent to £22,000 in 2020). More recently, the inaugural running of the Albany Stakes for 2-year-olds was on Saturday 22nd June 2002 as the Listed Henry Carnarvon Stakes over 6 furlongs, with 19 runners, and was won by Duty Paid (11/1) owned by Jeff Smith, trained by David Elsworth and ridden by Richard Quinn. The bay mare won by a head from Luvah Girl (12/1), with the favourite Pearl Dance (5/1 fav) a head back in third.

Over the entire history of the race 31% of favourites have been successful. (24th out of 32 Royal Ascot races)

Over the entire history of the race a level stakes bet on every favourite would have resulted in a 17% loss. (25th out of 32)