Horse racing has entranced spectators for centuries. From the Greek Olympic Games to today’s glitzy events, there are few thrills in sports as awe-inspiring as a day at the races. There’s something about the thundering hooves, the jockey’s skill and the horse’s power that makes it a sight to behold, especially if you have a front row seat.

Horse races are contested over distances ranging from 440 yards to more than two miles. Individual flat races are typically held on dirt, grass or a synthetic all-weather surface. Individual races can be as short as a sprint, known as a “sprint,” or as long as a classic distance known as a “route” in the United States and as a “staying race” in Europe. Sprints require fast acceleration and route races demand stamina.

A horse’s ability to race well can be based on several factors, including its age, sex, birthplace and prior performance. Racing conditions can also vary, depending on whether a race is an allowance race or a claiming race. In an allowance race, horses that have won a certain number of races or haven’t run since a specific date are eligible to compete. In a claiming race, horses are offered to new owners at a fixed price before the race is run. The original owner gives up ownership of the horse to the new owner and receives a percentage of the horse’s winnings, depending on how much he claimed.

Many races are rated according to a standard system that assigns each competitor a speed figure based on his performance relative to the field. Each category has sub-levels, based on the horse’s previous performances and other criteria, and the resulting figures are used to determine prize money to be distributed to first, second and third place finishers.

While improvements have been made, the industry is struggling with declining interest and a growing perception of animal cruelty. Horses are pushed beyond their limits, and many are euthanized after a serious injury or breakdown. Others are sold at auction, where they’re often shipped abroad for slaughter, where they die in inhumane conditions. The cruelty is widespread and has fueled an outcry from animal rights activists.