Horse racing is a form of equestrian performance sport. It involves a jockey riding a horse in competition over a set distance. Its origins are unclear, but it has been a popular activity for centuries. The sport is regulated by the British Horseracing Authority, but it is also popular in other parts of the world.

The sport has evolved into a multi-billion dollar business, with betting available online and in person at pari-mutuel tellers and bookmakers. Mobile betting apps allow fans to place bets from the convenience of their phones, compare odds and keep track of all their wagers in one location.

As with many other sports, horse races are governed by a variety of rules and regulations. The safety of horses and jockeys is of the utmost importance. This includes not only ensuring that the animals are physically fit, but also that they are free from any mental and psychological problems that may affect their performance.

Some races are designated as Grade 1 races, which have higher prize money and a greater historical significance than other races. The level of prize money and the number of graded races in a race determines its ranking on the International Race Calendar, which is updated regularly. The number of race dates and locations also influences a race’s ranking.

While knowledge of organized horse racing is largely lost in prehistory, there is evidence that it occurred in ancient Greece. This involved both chariot and mounted races, and was well-organized. However, it is thought that the sport became less formally organized after the fall of the Roman Empire, and was only reestablished in Britain during the seventeenth century.

During the eighteenth and nineteenth centuries, the British developed standardized races that emphasized stamina over speed. These races were known as the King’s Plates, and initially consisted of 4-mile heats that required a horse to win two of them in order to be declared the winner. This system was eventually adopted by the United States.

Today, there are a wide variety of horse races held around the world. In addition to the United States, major races are held in France, Japan and Australia. The Melbourne Cup is a particularly important event in Australia, where it is known as “the race that stops the nation.”

The Grand National, a cross-country race, is famous for its treacherous fences and distance (over four miles). It is considered to be a true test of both speed and stamina. It is a popular event, watched by many people who do not normally watch or bet on horse racing. The British are especially devoted to the Grand National, and it has become an integral part of their culture. The horseracing industry in the UK is worth more than £12 billion. There are approximately 21,000 licensed racecourses and over 70,000 stables. The most common breeds for the sport are Thoroughbreds, Irish Wolfhounds and Quarter Horses.