A horse race is a competition in which horses run and are guided by jockeys or pulled by drivers. The term also refers to a contest of ideas and opinions, particularly among competing political candidates or parties. In a horse race, each candidate or party presents its policies and proposals to voters in an attempt to gain their support. A horse race can take many forms, including debates and straw polls. Several journalism organizations and industry critics have suggested that news outlets incorporate more horse race coverage into their reporting of elections.
In ancient times, both chariot and mounted (bareback) racing took place as part of the Olympic Games. It was not until the 1700s that organized horse races became commonplace in Europe. Horse racing is an expensive sport to produce, and the profitability of individual races depends on the ability to draw large crowds. It is also a dangerous sport, and horses often sustain injuries and breakdowns during races.
There are three main ways to bet on a horse race: betting to win, betting to place and betting to show. When betting to win, you stake money on the horse you think will finish first. When you bet to place, you bet on a horse finishing either second or third. Betting to show means that you bet on your horse finishing first, second or third, but the payoffs are much lower than those for winning.
The most famous horse race in the world is the Palio di Siena, held twice each year in Siena, Italy. In this traditional event, a horse and rider represent one of the seventeen Contrade, or city wards. The spectacular pageant that precedes the race attracts tourists and spectators from around the world.
Although knowledge of the earliest horse races is limited, it is clear that a race was held in Egypt around 2,500 BCE and that chariot and mounted racing were popular sports in other prehistoric civilizations as well. It is possible that a race took place in China as early as the Zhou dynasty (4th century BCE).
Modern horse racing relies on pari-mutuel betting, which was a complicated system for calculating wagers until 1984. The introduction of computerized systems for tally and the advent of television in color both broadened the audience for horse racing. As a result, attendance and turnover have increased dramatically.