Horse racing has been around for centuries and can be traced as far back as 4500 BC. Horse racing is one of few sports where gambling is legal through out most of the world.
This sport is widely attended by spectators in the US. It is also very popular in Great Britain, Canada, South America, Australia, Ireland and the Middle East.
In the United States when it comes to the type of horses they race thoroughbred horse racing is by far the most popular. These horses are raced over a flat surfaces for 3/4 to 1 1/4 miles.
Between 1702 and 1714 horse racing in England began to become a professional sport. The jockey club was formed and they wrote rules and conducted meetings to defined standards and the quality of the racing.
The jockey club also worked very hard to regulate horse breeding and a pedigree of each racehorse is documented. Thoroughbred horses can be traced back to their beginnings.
When horse racing came to America the first racetrack was built in 1665 on long island. Then in 1868 the the American stud book was started and horse racing exploded.
By1894 the jockey club of America was formed it was modelled after the English club and it soon ruled racing with an iron fist. This eliminated much of the corruption that had become a part of racing in the US.
Coming up with a breeding system to ensure champions is not scientifically possible. But thoroughbreds that perform well at the race track command a high breeding price.
Male thoroughbreds have the highest breeding value as they are able to mate with at least 40 mares in a single year. The winners of the triple crown being the most valuable of all.
Betting on the outcome of a race is the main source of appeal when it come to horse racing. And is the most significant reason horse racing has survived as long as it has.
All betting at the track today is based on a wager system designed by a Frenchman named Pierre Oller in the late nineteenth century.
Under this system a total of 14 to 25% is taken out for the racing purse to be given to the winner as well as state and local taxes along with track operating costs.
The projected payoffs are posted on the track board during the betting period. The odds are determined by how much money is bet on each horse to win.