A horse race is a contest in which horses compete for money or other prizes by running around an oval track. The contest is typically supervised by a referee, and the horses are assigned weights according to their past performance. A winner is declared when a particular horse crosses the finish line first. The horse racing industry is a multibillion dollar business, with the top five or six horses earning an average of $10 million each year. The sport is also popular in many other parts of the world.
In the earliest races, match races were based on a simple wager between two or three owners of different horses; an owner who withdrew forfeited half the purse (later the entire purse) to his opponent. The resulting agreements were recorded by disinterested third parties, who became known as keepers of the match books. By 1729, Newmarket had an official keeper who published An Historical List of All the Horse-Matches Run at that Track (1729).
As time went on, rules for races were established to ensure fair play. In the United States, for example, standardized races were established that required all horses to be able to carry 168 pounds in 4-mile heats; only one horse could win two of the heats to be adjudged the winner. This system remained in place until 1751, when four-year-olds and six-year-olds were admitted to the King’s Plate races and heats were reduced to 2 miles.
The horse racing industry has its share of controversy. Its popularity has led to horse abuse and a high rate of injuries among the animals, including gruesome breakdowns and even hemorrhage from the lungs. In addition, the economics of horse racing are skewed by a large amount of gambling, and the industry is susceptible to scandal and corruption.
While the sport is dominated by wealthy men, horse racing has traditionally been a popular pastime of working class Americans. During the 1930s and 1940s, for instance, Seabiscuit was a favorite of both professional and casual fans alike. People cheered him by name rather than by his number, a sign of the close bond that developed between horse and fan.
The term horse race is also used in politics to refer to a tight contest, implying that any of the candidates could come out on top. A study of newspaper coverage of gubernatorial and Senate elections in 2004 and 2006 found that papers owned by corporations and chains were more likely to frame the contest as a horse race, especially when the outcome was uncertain or close. This tendency to focus on two candidates battling it out for the spotlight can undermine democracy by undermining the importance of minor and third-party contenders. It can also result in a lack of public confidence in the electoral process. Changing this culture is a long-term undertaking, but the benefits of doing so are significant.