A horse race is a competition between two or more horses, with the winner of the race receiving prize money. The first place finisher usually receives the most money, followed by second and third. The race may also feature hurdles or other obstacles that the horses must overcome to complete the course. The history of horse races dates back to ancient times, and they are still popular today.

Betting on horse races is a major part of the sport and draws large crowds to the tracks. Those who bet on the outcome of the race can win or lose based on which horse they pick and how much they bet. In addition to betting on individual horses, people can place accumulator bets in which multiple bets are placed at once.

Horse racing is a global sport with events held in Europe, Asia and Australia as well as the United States. Some of the most famous races include the Prix de l’Arc de Triomphe in France, the Melbourne Cup in Australia, the Caulfield and Sydney Cups in Australia, the Gran Premio Carlos Pellegrini in Argentina and the King George VI and Queen Elizabeth Stakes in England.

The sport is regulated in dozens of countries around the world, but the rules and regulations vary from country to country. In the United States, for example, horse racing is a state-regulated activity and there are a variety of different standards and rules that can apply to each track. For instance, the use of whips during a race is regulated differently in each state.

As the industry has evolved, horse racing has adopted a number of technological advances. These advancements have made the sport safer for both horses and jockeys. Thermal imaging cameras detect overheating, MRI scanners and X-rays can spot a variety of minor or serious issues before they become more severe, and 3D printing can create casts and splints for injured or ailing horses.

But despite these improvements, the racing industry still fails to make the welfare of horses its top priority. New would-be fans are turned off by the many horror stories of horse abuse and neglect, and racing aficionados often blow off the concerns of animal rights activists and the public.

Even with these new technological innovations, the industry is failing to keep up with consumer demands and is losing market share to other forms of gambling. In addition, the horse racing industry has yet to address its underlying problems of drug use and abusive training practices that cause horses to break down and ultimately end up in foreign slaughterhouses. The only way to save the sport is for racing aficionados to wake up and put the welfare of horses above profits.