A horse race is a competitive sporting event in which horses compete for the fastest time around a track. The races are generally held on a flat course, but can also be run over jumps. Spectators make bets on the outcome of the race, and this makes it a profitable industry for bookmakers. Horses may be ridden or driven, and a variety of tack and equipment is used in the sport. Some horse races are regulated and have high stakes, while others are not. The sport is controversial, and a number of problems have arisen that have raised concerns about the welfare of the animals involved.

The first recorded horse race took place in 1651. The sport has since grown to include races across the globe and in a wide variety of settings. In addition to the traditional flat racing surface of dirt, tracks may be made of grass, sand, or synthetic materials. Horses may be bred for speed or stamina, and are often trained in disciplines that differ from one another. Some horse races are open to all horses, while others are restricted to specific breeds or stallions. Many races are graded by a system in which the racing secretary or track handicapper assigns weights designed to equalize the winning chances of the entrants. The higher the class of the race, the more weight is assigned to the better horses.

In the early days of the sport, bets were placed by private individuals. In the 19th century, wagering became more organized, with public bets accepted at tracks worldwide. These bets were pooled into a pari-mutuel system in which the horse’s owner gets a share of the total amount bet on the race, with the rest going to the betting public and the track management. In modern times, bettors can place bets on the horse’s win, place, or show finish.

Despite the widespread popularity of the sport, horse races are incredibly expensive to produce and hold. The cost of breeding, training, and caring for a single horse can reach hundreds of thousands of dollars. A horse’s career may last only a few years, and it is not uncommon for them to suffer injuries or breakdowns that prevent them from running. The aging horses may then be sent to slaughter or live out their lives in retirement.

A growing awareness of the dark side of horse racing has fueled improvements in animal welfare and safety. Nonetheless, the race industry still struggles with problems, such as abusive training practices and drug use, and the fact that thousands of horses are sent to slaughter each year. For more information about these issues, see articles on horse cruelty. In the future, the industry will need to continue to promote animal welfare and improve its financial sustainability. In order to do this, the industry must embrace new technologies, such as biometrics and blockchain. It will also need to work with animal rights organizations, such as PETA, to promote and fund testing, rehabilitation, and education.