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Betting on horse racing

Betting on horse racing or horse betting commonly occurs at many horse races. It started in the UK in the early 1600s during the reign of King James I. Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks. For example, because of a law passed in 1951, betting is illegal in Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank (TD Bank) Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina. Where gambling is allowed, most tracks offer parimutuel betting where gamblers' money is pooled and shared proportionally among the winners once a deduction has been made from the pool. Parimutuel betting also provides purse money to participants and a considerable amount of tax revenue, with over $100 billion being wagered annually in 53 countries.In some countries – notably the UK, Ireland, and Australia – an alternative and more popular facility is provided by bookmakers who effectively make a market in odds. This allows the gambler to 'lock in' odds on a horse at a particular time (known as 'taking the price' in the UK).

Wikipedia


Horse racing

Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance, for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been unchanged since at least classical antiquity.Horse races vary widely in format and many countries have developed their own particular traditions around the sport. Variations include restricting races to particular breeds, running over obstacles, running over different distances, running on different track surfaces and running in different gaits. In some races, horses are assigned different weights to carry to reflect differences in ability, a process known as handicapping.While horses are sometimes raced purely for sport, a major part of horse racing's interest and economic importance is in the gambling associated with it, an activity that in 2008 generated a worldwide market worth around US$115 billion.

Wikipedia


Horse racing in Great Britain

Horse racing is the second largest spectator sport in Great Britain, and one of the longest established, with a history dating back many centuries. According to a report by the British Horseracing Authority it generates £3.39 billion total direct and indirect expenditure in the British economy, of which £1.05 Billion is from core racing industry expenditure and the major horse racing events such as Royal Ascot and Cheltenham Festival are important dates in the British and international sporting and society calendar. The sport has taken place in the country since Roman times and many of the sport's traditions and rules originated there. The Jockey Club, established in 1750, codified the Rules of Racing and one of its members, Admiral Rous laid the foundations of the handicapping system for horse racing, including the weight-for-age scale. Britain is also home to racecourses including Newmarket, Ascot and Cheltenham and races including The Derby at Epsom, The Grand National and Cheltenham Gold Cup. The UK has also produced some of the greatest jockeys, including Fred Archer, Sir Gordon Richards and Lester Piggott. Britain has also historically been a hugely important centre for thoroughbred racehorse breeding. In fact all racehorses are called English Thoroughbred, the breed having been created in England. All modern thoroughbred racehorses can trace a line back to three foundation sires which were imported to Britain in the late 17th/early 18th centuries and the General Stud Book first published by James Weatherby still records details of every horse in the breed. Gambling on horseraces has been one of the cornerstones of the British betting industry and the relationship between the two has historically been one of mutual dependence.

Wikipedia


Race track

A race track (racetrack, racing track or racing circuit) is a facility built for racing of vehicles, athletes, or animals (e.g. horse racing or greyhound racing). A race track also may feature grandstands or concourses. Race tracks are also used in the study of animal locomotion. A racetrack is a permanent facility or building. Racecourse is an alternate term for a horse racing track, found in countries such as the United Kingdom, India, Australia, Hong Kong, and the United Arab Emirates. Race tracks built for bicycles are known as velodromes. Circuit is a common alternate term for race track, given the circuit configuration of most race tracks, allowing races to occur over several laps. Some race tracks may also be known as speedways, or raceways. A race course, as opposed to a racecourse, is a nonpermanent track for sports, particularly road running, water sports, road racing, or rallying.

Wikipedia


Steeplechase (horse racing)

A steeplechase is a distance horse race in which competitors are required to jump diverse fence and ditch obstacles. Steeplechasing is primarily conducted in Ireland (where it originated), the United Kingdom, Canada, United States, Australia and France. The name is derived from early races in which orientation of the course was by reference to a church steeple, jumping fences and ditches and generally traversing the many intervening obstacles in the countryside. Modern usage of the term "steeplechase" differs between countries. In Ireland and the United Kingdom, it refers only to races run over large, fixed obstacles, in contrast to "hurdle" races where the obstacles are much smaller. The collective term "jump racing" or "National Hunt racing" is used when referring to steeplechases and hurdle races collectively (although, properly speaking, National Hunt racing also includes some flat races). Elsewhere in the world, "steeplechase" is used to refer to any race that involves jumping obstacles. The most famous steeplechase in the world is the Grand National run annually at Aintree Racecourse, in Liverpool, since its inception in 1836 (the official race was held three years later), which in 2014 offered a prize fund of £1 million.

Wikipedia



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