Everyone knows the most popular part of NBA All-Star Weekend is the Saturday night skills competitions.
While all eyes are normally on the Slam Dunk Contest later that evening, the Three-Point Contest has produced some exciting moments over the years.
The six-man field this year is comprised of Kevin Durant, Paul Pierce, Ray Allen, James Jones, Daniel Gibson and Dorell Wright.
So who is the favorite? Find out in the slideshow.
The Three-Point Shootout began in 1986 with Larry Bird taking the first crown. Take a look at the winner of the competition each year since then, thanks to NBA.com.
1986 - Larry Bird, Boston
1987 - Larry Bird, Boston
1988 - Larry Bird, Boston
1989 - Dale Ellis, Seattle
1990 - Craig Hodges, Chicago
1991 - Craig Hodges, Chicago
1992 - Craig Hodges, Chicago
1993 - Mark Price, Cleveland
1994 - Mark Price, Cleveland
1995 - Glen Rice, Miami
1996 - Tim Legler, Washington
1997 - Steve Kerr, Chicago
1998 - Jeff Hornacek, Utah
2000 - Jeff Hornacek, Utah
2001 - Ray Allen, Milwaukee
2002 - Peja Stojakovic, Sacramento
2003 - Peja Stojakovic, Sacramento
2004 - Voshon Lenard, Denver
2005 - Quentin Richardson, Phoenix
2006 - Dirk Nowitzki, Dallas
2007 - Jason Kapono, Miami
2008 - Jason Kapono, Toronto
2009 - Daequan Cook, Miami
2010 -- Paul Pierce, Boston
Participation in the event isn't mandatory, as many players opt to skip the Saturday night festivities all together. Whether the following players simply weren't invited or they just didn't agree to compete, we sure wish they were.
Shawne Williams, New York Knicks: Sure, the unheralded fourth-year pro hasn't made an outrageous number of three-pointers but he is leading the league in three-point shooting percentage. Williams is shooting an astounding 50.6 percent from three-point land this season.
Matt Bonner, San Antonio Spurs: Bonner is second in the league in three-point percentage, as he has made 50.4 percent of his shots from beyond the arc. The University of Florida alum has thrived under Gregg Popovich and has become a key backup for the Spurs.
Chauncey Billups, Denver Nuggets: Billups has never been stellar in past three-point shootouts, but that doesn't mean the clutch point guard should have been left out of the contest. He is shooting 44.4 percent this season while also draining 96 three-pointers.
Below are the contestants for this year's event, ranked by number of three-pointers made this season.
1. Dorell Wright: 124
2. Ray Allen: 115
3. James Jones: 91
4. Kevin Durant: 85
5. Daniel Gibson: 79
6. Paul Pierce: 73
Below are the same contestants, ranked by their three-point percentages for the season.
1. Ray Allen: 46.2
2. Daniel Gibson: 43.9
3. James Jones: 42.7
4. Dorell Wright: 40.9
5. Paul Pierce: 40.1
6. Kevin Durant: 34.7
Daniel Gibson was a key component to the Cavaliers' playoff run during the 2008 season. Last year, he was nowhere to be found.
With LeBron James gone, Gibson has rediscovered his role in the Cavaliers' offense. Gibson is the third-leading scorer on the team at 13.0 points per game.
He is shooting a respectable 43.9 percent from three-point range this season. However, I doubt the youngster does well in this year's contest. He is a notoriously streaky shooter who disappears from games.
Gibson will fail to find his rhythm and exit from the tournament quickly.
After six rather disappointing seasons with the Miami Heat, Wright has found a new home with the run-and-gun Golden State Warriors. The sixth-year pro is scoring at a career-high pace, with 16.6 points per game.
Although Wright has made the most three-pointers out of the contestants, it doesn't seem as if Wright is poised to make a run at the three-point crown. Wright is more of a scorer than a shooting specialist.
The bright lights and big names will make the emerging Wright just a little too anxious.
Being surrounded by Chris Bosh, LeBron James and Dwyane Wade has left Jones with some serious three-point opportunities.
The seventh-year swing man has made an astonishing 93 three-pointers while only playing 21 minutes per game.
Jones should be competitive in the three-point contest, but the skills and experience of the top three will prove to be too tough to overcome.
Kevin Durant has the lowest three-point percentage in the field, but that doesn't mean he isn't a contender in this competition.
Being the star on the Thunder often means that Durant has to take ill-advised shots as the shot clock winds down or with multiple hands in his face. Guys like James Jones and Daniel Gibson get to spot up in the corner and launch wide-open threes.
Durant has a nasty jump shot and the shooting stroke to go far in this competition. He may not win, but look for him to at least make the second round.
The reigning winner of the competition looks to recapture his title in 2011.
Pierce has never been looked at as an amazing shooter, but he gets the job done. His herky-jerky motions have led many fans to wonder just how he does it.
Regardless of how it looks, he can shoot. His experience and past accomplishments should prove huge in the contest.
Pierce is simply too competitive to reach anything else than the final three.
Who else would be No. 1?
Ray Allen is either the best shooter in NBA history or the second-best behind Reggie Miller, depending on who you talk to.
He has one of the sweetest shots in the history of the game and is still one of the scariest guys in the final minute of the game. Allen still has the ability to single-handedly change a game with a three-pointer.
You don't bet against Ray Allen. You just don't.