One of the oldest and most thrilling sports is horse racing. It was a race between two horses based on speed or endurance.
With time, the sport developed into a multi-million dollar spectacle with sizable fields of runners being watched by cutting-edge technology. Today, sports betting on the races has expanded online. The “sport of kings” has evolved, but its fundamental tenet has not: the first horse to cross the finish line wins. Discover the history and future of this beautiful sport by reading on.
Horse Racing Ancient Origins
About 6,000 years ago, wild horses were first domesticated in the Central Asian steppes. Chariots, wagons, cavalry, horse archery, and technological advancements like the bridle, bit, and stirrup were all created over time by humans. These techniques were used in both the military and entertainment of Egypt, Greece, and Rome civilizations.
The Olympic Games of Ancient Greece, which took place between 700 and 40 BCE, included chariot races and bareback mounted races. These events were also well-attended in the Roman Empire. These are the earliest known horse races, and Greek and Roman spectators likely bet on the results.
The chariot races of the ancient Greeks and Romans are echoed in the modern sport of harness racing. Over a mile, horses pull a two-wheeled cart called a “sulky” or “spider.”.
First Odds for Horse Racing
Following the Crusades, racing became popular in Europe. Fast-moving Arabian, Barb, and Turk horses were brought back by crusading knights; to demonstrate their horses’ speed to potential buyers, breeders held professional races. In the days of Robin Hood, during the reign of Richard the Lionheart (1189-1199), the first recorded racing purse was £40 (approximately $40,000 in today’s currency) for a three-mile race. The King’s Plate, the first organized race with prizes, was established by Charles II (1660–85). The horses had to compete in two 4-mile heats and be six years old.
Louis XVI established a jockey club in France (1774–1793) and instituted racing regulations. Foreign horses were given a weight penalty and must have certificates of origin. The French Revolution ended the interest in royal sport, but it was revived under Napoleon and has since flourished.
The first races in North America were held in 1664, during the British occupation of New Amsterdam (New York City). On Long Island, the British commander built a 2-mile racetrack with a silver cup for grabs for the top horses.
Modern Horse Racing Wage-Ring's Inception
The sport changed due to the public’s demand for more racing occasions. People could go to open competitions with more extensive fields of runners by the 1750s. The original English classic races were where modern horse racing wagering took off. The St. The Leger (1776), Oaks (1779), and Derby (1780) were all sprints for three-year-old horses pulling equal weights. In 1809 and 1814, respectively, the Two Thousand Guineas and One Thousand Guineas races were held. The St., The Triple Crown of British racing, consists of the Leger, Derby, and 2000 Guineas.
Worldwide spread of traditional English horse race betting. The Prix du Jockey Club (1836), Grand Prix du Paris (1863), and Prix de l’Arc de Triomphe (1920) are the three races that makeup France’s Triple Crown. The Preakness Stakes (1873), the Kentucky Derby (1875), and the Belmont Stakes (1867) are the three races that make up the American Triple Crown. Since then, numerous nations have implemented their Triple Crowns.
The Height of the Racing Era
Following the Civil War, the American racing industry experienced a huge boom, and by 1890, there were 314 racetracks open for business in almost all states. That ended when anti-gambling groups passed laws outlawing odds quoting and bet solicitation. By 1908, there were only 25 remaining racetracks.
This all changed when pari-mutuel betting, created by the Frenchman Pierre Oller in the late 19th century, was made available at the Kentucky Derby. In this system, purses, track costs, and taxes are subtracted as a fixed percentage of the total amount wagered. The number of distinct correct wagers is multiplied by the remainder. This establishes each bet’s projected payoff, also known as the horse racing odds.
Many state legislatures decided to legalize pari-mutuel betting in exchange for a cut of the winnings because they saw it as an excellent opportunity to boost tax revenues. As more tracks opened, racegoers flocked to the ways to watch great horses like Seabiscuit and Man o’War.
Horse racing had become a big business by the 1950s. More races were scheduled, and fields of 12 or more horses started to appear frequently. Horse breeding increased, and training became more rigorous. Great Triple Crown winners like Secretariat, Seattle Slew, and Affirmed captured the public’s hearts. Purses expanded concurrently. The first million-dollar race was the Arlington Million in 1981, and today’s high-profile races regularly have bags exceeding $10 million.
Racially Modernizing
The sport has lost popularity in recent years. Even though many tracks have closed, significant events like the Triple Crown races that are televised nationally continue to draw large crowds.
But the motorsports sector has significantly contributed to rehabilitating the sport’s image. The key is modernization. The sport of horse racing is the last central legacy platform in sports to be modernized, according to Belinda Stronach, chair of the 1/ST ownership group, in an open letter that made headlines about the sport. Our sport must improve if we want it to flourish for upcoming generations. “.
Stronach suggested rules for safety and welfare, such as making veterinary records more transparent, banning some medications used on race day and reducing the use of many others, and prohibiting jockeys from using riding crops unless necessary for safety. While PETA referred to them as “a historic moment for racing,” the California Horse Racing Board approved these proposals. “.
To take additional precautions, every horse workout is logged using motion detection and facial recognition technologies. High-resolution cameras monitor movement patterns and stride lengths to detect potential injuries early.
Online Sports Betting: Racetrack Sportsbooks
Another reason to be upbeat about the races is sports betting. While Arkansas approved casino gaming and sports betting at Oaklawn Racing Casino Resort, the state’s sole thoroughbred horse track, Delaware and New Jersey opened race track sportsbooks in 2018. Pennsylvania, Indiana, and West Virginia are other states that permit horse racing tracks to provide casino gaming, and Ohio is expected to follow suit. The Stronach Group may launch its first racetrack sportsbooks at Laurel Park or Pimlico (site of the Preakness Stakes) later this year. Horse track operators like Penn National invested billions in sports betting.
Betting patterns are evolving due to sports betting. Instead of pari-mutuel wagering, tracks are considering “fixed-odds” wagering. Like how they would learn to wager in team sports, gamblers are learning how to wager in horse racing. Horse racing picks are possible with fixed-odds wagering but not with pari-mutuel wagering. Bettors can place bets on horse finishes, comparisons to other horses, and a wide range of other possibilities using their mobile devices.
