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There are many people who love watching horse races. However, if you don’t have a connection to a horse, then you won’t have a chance to sit in Millionaires Row. Instead, you will be forced to mix with the 80,000 other fans in the infield, where you can still catch a glimpse of the horses as they pass by. The history of horse racing The history of horse racing goes back thousands of years. The first recorded horse races took place in ancient Greece, where four-hitch chariot and mounted races were commonplace. Horse racing then spread to neighboring nations in Europe and the Middle East. In mediaeval England, horse racing was popular enough to hire professional riders. The first three-mile horse race was awarded 40 pounds to the winner. After horse racing gained popularity, wagering increased. In some states, betting was banned. Eventually, it was legalized. Horse racing betting came back after the Great Depression, but the sport did experience ups and downs. During the Depression, the government introduced laws prohibiting gambling and horse racing betting. Despite the difficulties, betting remains an important part of horse racing. Types of horse races There are many different types of horse races. The most well known type of race is the Group 1 Classic. These races are contested by top-level racehorses and offer higher purses. Owners contribute towards the purse and the racetrack adds the rest. In Group 2 and 3, the weights are calculated similarly to Group 1 races, but include penalty points for horses that won a higher race in the last few months. Listed races are the next step down from Group level, but are not as important. They can range from hundreds of pounds to millions of dollars. Horse racing has evolved over the centuries. In the early days, horse owners raced their animals to see who was faster. Horse owners had to pay money to enter the race, and if they didn’t show up, they lost the prize money. Later, a “play or pay” rule was introduced, which required owners to show up or forfeit the prize. Nowadays, horse races are often called “match races” between the best thoroughbreds in the country. The conditions for these races are agreed upon between the horse owners. Rules of horse races If you’re planning on going to a horse race, you’ll want to know about the rules. These regulations govern everything from the start of the race to the post-race inspection. The rules of horse racing vary slightly depending on the type of race. They describe how a horse should be saddled and what to do before and after the race. They also explain how far a horse can travel in a race. Horse races are public trials that evaluate the form of a horse. They are also governed by rules and law. If you think that something has been done in violation of the rules, you can object. To object, you need to file a claim within a deadline, and follow the procedure set in the rules. Prize money in horse races Prize money is one of the most important aspects of horse racing. The amount of purse money varies depending on the track and the number of horses in the race. The first three finishers typically earn the largest portion of the purse, with the rest split among the other horses based on their place. The winning horse can expect to earn up to 60 percent of the purse, while second and third place horses receive only ten to twenty percent of the prize money. Some tracks also include a fixed amount for the sixth-place finisher. The Australian racing industry has followed American trends in dividing prize money in horse races. Some tracks only award the top eight finishers in the race, while others only pay the top ten. However, the awards for those finishing in the sixth through eighth place are usually equal to the first place winner, and they are sometimes awarded a fixed dollar amount instead of a percentage of the total purse. Interestingly, the Melbourne Cup awards the sixth through tenth placers one-tenth of the total purse. Influence of mobile sports betting on horse racing Mobile sports betting could increase horse racing’s revenue by providing new revenue streams, but it will need a little time before that can happen. Currently, only the New York racing commission has the authority to license mobile sports betting. Despite this, the New York Racing Commission is working on a process to approve mobile sports betting for horse racing. If the commission approves mobile sports betting for horse racing, it would give racetracks plenty of latitude to develop a new betting system. It would also deepen the economic impact of the horse racing industry in New York. This process could also result in a change to horse racing laws in many states. The Supreme Court recently struck down the federal ban on sports betting. As a result, more states are legalizing single-game wagering on horse races. In addition, many states require operators to host a minimum number of races annually. Some even subsidize horse racing stakeholders through casino taxes.