A horse race is a contest between several horses in which each is pulled by a jockey or driven by a sulky and the first one to cross a finish line wins. The term may also be used as a metaphor for any close form of competition or contestation. While the phrase is often applied to political contests, it can be used in a variety of situations where two or more competitors are closely matched. For example, a business rivalry can be described as a horse race in which each company tries to win a particular market by offering better service or products than its competitor.
There are many forms of horse races, and a lot of money is bet on them each year. Spectators can place bets at the track where the race is being held, over the phone or internet (known as simulcast racing) or from the comfort of their home. It is estimated that over $100 billion is bet on the three major American horse races each year, and millions of dollars in wagers are made at lesser known tracks around the country.
The first horse race is believed to have been a simple wager between two noblemen in 1651, and by the time Louis XIV reigned (1643-1715) organized racing was commonplace. In the 18th century, rules for races were developed based on age, sex, and birthplace, and handicappers assigned weights to enable each horse to compete equally. The highest level of racing is the Grade 1 race, which is designated with a G symbol.
Behind the romanticized facade of Thoroughbred horse racing is a world of drugs, gruesome breakdowns and injuries, and a massive industry that includes breeding, training, and marketing. The horses that race for a living spend much of their lives trucked, flown, or shipped to the thousands of races that take place every year. These events force the horses to run faster than they were designed to sprint, which leads to a number of injuries and can even cause them to suffer from severe mental distress.
Many equine athletes are forced to retire from racing and face slaughter when their careers end, but some have a chance of a second career as therapeutic riding or breeding horses. These horses must be retrained to be calm and comfortable in the presence of humans, who are sometimes unfamiliar with the way that they move and communicate. These horses are called racehorses, and they can be quite expensive to maintain, but they can have a great impact on people’s lives.
Some executives and governance observers are uncomfortable with the classic succession “horse race,” in which multiple candidates compete to become a company’s next chief executive officer, but others embrace it as a means of identifying outstanding leaders. It is important to note that a company’s board should carefully evaluate each candidate before making a decision. The board must be confident that the chosen candidate will make a positive contribution to the organization and will be able to deliver results.