The event takes place at the Kentucky Horse Park, north of Lexington. Visitors can camp on site or stay at a nearby hotel. Camping facilities are limited, with the event operators usually creating a waiting list for those that require electricity and water supplies. Most sites in the campground are shared with other campers. A food store, tennis court and swimming pool are also available for use on the site. It takes place in early June and runs from a Thursday to a Sunday.
The Festival of the Bluegrass was started by the Cornett family in 1974, using a farm wagon as a stage. It was held at various locations in the area but established itself at the Kentucky Horse Park in the festival's 17th year. There are now three stages to accommodate the large crowds the event attracts and a music camp to teach children to play bluegrass music and to encourage them to continue the tradition.
Performers play bluegrass, a genre of country music inspired by British immigrants. In a similar way to jazz music, instruments are played individually with the other band members playing a melody around them.
Costs vary depending on how many days visitors would like to attend. In 2010, a four-day ticket for the event cost $90. Camping is not included in the ticket cost.