A horse race is an event in which horses compete for a prize by running on a fixed course and jumping obstacles (if present). The winner of the race is the first one to cross a finish line. Spectators place wagers on the outcome of a race by betting on individual horses or on the entire field. Winning bettors receive their winnings, after a deduction of a percentage from the total amount wagered.

In order to qualify for a major race, a horse must have achieved certain performance standards. These criteria are based on past results, particularly in the most prestigious races known as Grade I or Group I, and also take into account a horse’s pedigree and achievements. Depending on the race, these are usually sprint or mile races and are run over either dirt/artificial or turf courses.

Horse races are governed by rules that ensure fairness and safety of the horses and riders. These rules are known as the code of conduct and are enforced by racing officials. In addition, the rules govern the way in which horse owners and trainers manage their stables. The code of conduct consists of nine fundamental principles.

One of the most important aspects of horse racing is determining who will win a race, which is why there are handicappers and form sheets. A handicapper is an individual who studies the race to identify the best horse to win and analyzes previous races to determine which horse has the most chance of winning. Typically, these people are professionals and can be found in many forms of media.

In addition to handicapping, form sheets are used to record information about each horse in a race such as its speed and stamina. These form sheets can be helpful to trainers and jockeys when making decisions about which horse to ride. A jockey is the person who rides a horse during a race and is responsible for steering it around the course and jumping any hurdles that may be present.

Horse racing is the most popular sport in the world and is played in almost every country. It is a fascinating sport that can be enjoyed by all types of people. It is also a very competitive sport and the best horse racing teams have the most talented trainers and jockeys.

The earliest recorded accounts of horse races date back to the Greek Olympic Games in 700 to 40 B.C. During this time, horse races were conducted using both four-hitched chariots and mounted bareback riding. These races eventually spread to other countries such as China, Egypt and India. In North America, organized horse racing was first established with the British occupation of New Amsterdam in 1664. The earliest American horse races were short sprints and focused on stamina, rather than speed. In the 1800’s, long-distance races were more popular and speed became a key attribute in selecting Thoroughbred racehorses.