Horse races are competitions in which riders on horses compete against one another for prize money, usually prized as prize money at the finish line. A variety of factors may impact race outcomes such as horse age, gender, birthplace and performance history – originating in Europe initially but now also popular worldwide including North America. Although its exact date and place of creation remain elusive it is thought some early races were held between 700 to 40 BC

One event that has greatly contributed to shaping modern horse racing was the 1870s development of the tote board, which displays odds, betting pools and race information – essential tools for handicappers who bet on horse races.

Alongside the tote board, another important aspect of horse races involves their physical condition and training. A well-trained horse will run faster and farther than an unfit or less-trained one; track condition and weather also have an influence in deciding the outcome of each race.

Horse races are highly regulated sports. To participate, horses must be in good health and under constant veterinary supervision throughout the event. All participants must also be approved prior to participating and must possess appropriate equipment and shoes.

One of the major problems in horse racing is the use of illegal drugs to boost performance or mask pain, with many horses testing positive for such substances, fuelling corruption and greed. Horses not used to racing may also be overmedicated and overtrained to cause them to collapse; once sold at auction as part of the slaughter pipeline.

Horse racing offers many tangible advantages; but beyond those benefits it also serves as a thrilling and social event. Take the Kentucky Derby as an example – an extravagant affair where spectators wear fancy hats and sip mint juleps! Profits from tote boards are used for funding state operations and capital improvements as well as rewarding horse owners. New York Racing Authority reports that 12.15% of its net profit goes directly back to state-related entities such as government agencies and horse breeding funds, funding their racing programs while spreading public awareness of horse racing. In the United States, racing profits are distributed mostly among the top three finishers of each race; any extra is divided amongst each of the next six places as follows. Meanwhile in the UK a percentage of profits go directly back into local racing clubs; their share depends on how much was betted per race (known as betting pool size).