A horse race is a sport in which horses compete against one another. The competition is regulated by a set of rules and regulations, and the winner is determined by whichever runner wins the race. There are a number of different races that can be held, such as the Kentucky Derby or Dubai World Cup. The sport is also characterized by its long-standing traditions, including ceremonial pageantry and fashion. Spectators often dress up in fancy hats and dresses to attend these events.

A popular handicapping ranking, introduced by author Andrew Beyer, that assigns a numerical value to each runner based on their final time and track conditions. It takes into account how many lengths the runner finished behind the winner, track conditions, and the horse’s ability to carry speed into the stretch. It is a more accurate way of rating a horse’s performance than just looking at the final time and distance of the race.

In the United States, horse racing is a multibillion-dollar industry that involves thousands of racehorses, each with an owner, trainer, and jockey. A large portion of the revenue goes to purses, which are the total amount of money offered for winning a race. Larger purses attract higher quality horses and thus increase interest in the sport.

The Kentucky Derby, the Preakness Stakes, and the Belmont Stakes are three of the most prestigious horse races in North America. These races are known for their elegance and tradition, and the attendees often wear elaborate hats and drink mint juleps to celebrate the occasion. The sport is also renowned for its animal welfare policies, and it is working to improve track conditions and enhance veterinary care.

Although many people enjoy betting on horse races, it is important to know how to bet responsibly. A good tip is to always read the terms and conditions of each race before placing a bet. It is also recommended to choose a trustworthy site and stick with it. Lastly, never bet more than you can afford to lose.

In addition to its storied tradition and glamorous spectacles, horse racing has also become a subject of criticism for the treatment of its animals. From the ill-fitting shoes to the debilitating musculoskeletal disorders, it’s no secret that these majestic creatures are subjected to a great deal of cruelty.

Horses are forced to endure intense training from the age of 18 months, and they’re typically raced at two. This is an extremely young age for these animals, and necropsies of former racehorses show that 4-, 3-, and even 2-year-old horses frequently die from chronic conditions like osteoarthritis and degenerative joint disease, evidence of the incessant shocks their bodies are subjected to at such a young age. They don’t even reach full musculoskeletal maturity until the age of six. The industry is rife with systemic problems that must be addressed.