A horse race is an equestrian sport that involves a competition between two or more horses over a set distance. Horse races are held on flat racetracks, ranging in size from a small village track to large world-class venues such as Belmont Park and the Kentucky Derby. Stakes races are the pinnacle of the sport and embody its competitive spirit, prestige, and tradition. The sport also attracts a wide audience from around the world, thanks to its rich heritage and the dedication of its trainers, jockeys, and owners.

Horses are generally ranked by their overall performance, with the best horses typically winning stakes races and earning the highest purses. However, there are many factors that contribute to a horse’s performance, including its age, sex, birthplace, and previous races. In addition, races are often broken down into categories based on speed, stamina, and other criteria. For example, a short race may be considered a sprint, while a long race is often seen as a test of endurance.

The horse racing industry is worth billions worldwide. The sport is regulated by governments and organizations such as the International Federation of Horseracing Authorities. In the United States, horse racing is a popular spectator sport, contributing to the economy and boasting an estimated 15 million fans in attendance at tracks nationwide each year. The sport is a major source of entertainment, providing a unique opportunity to see top-tier athletes compete at an elite level in front of millions of enthusiastic fans.

Individual flat races are held on tracks that vary in size and surface, with turf the predominant surface worldwide and dirt more common in North America and Asia. A number of different track types exist, from the traditional oval shape to a figure-of-eight and tracks with steep gradients and camber like Windsor in Great Britain.

In most horse races, a winner is determined by whichever horse crosses the finish line first. The order of the horses in a race is determined by a number of factors, including position relative to the inside barrier, sex, jockey and training. In the most prestigious races, horses are assigned a weight to carry for fairness. In addition, allowances are granted to younger horses and female horses running against males.

The earliest documented races were quarter-mile length races that took place down local streets and lanes in the early 17th century in Henrico County, Virginia. The races became more formalized when Charles II (reigned 1660-85) established the King’s Plates, four-mile heats in which the oldest and most experienced horses are allowed to run with equal weight. The modern sport of horse racing was forged in the 18th century when it began to be promoted as a spectator sport, with rules established regarding age, sex, and birthplace of horses. The sport then grew into the global phenomenon it is today.