A horse race is a contest between two or more horses that are either ridden by jockeys or pulling sulkies with drivers. Horse races are incredibly exciting spectator sports, as well as hugely lucrative events where bettors place wagers for a chance to win big prizes. These events are attended by people from all walks of life and often feature a high degree of glamour and prestige that is unmatched by other sports.

Although horse racing evolved from a primitive contest of speed and stamina between one or more animals into an equestrian sport involving large fields of runners, sophisticated electronic monitoring equipment, and immense sums of money, its basic concept remains unchanged. The horse that crosses the finish line first is declared the winner.

While many people think of horse racing as a spectator sport, it is also a major industry in which horses are raised and trained. Some of the most prestigious horse races in the world take place at storied tracks, such as the Prix de l’Arc de Triomphe, which has been held annually since 1920. The races are a showcase of the skills and training that go into producing the highest quality horses, which attracts bettors from all over the world.

The sulky races, in which horses are pulled by their drivers instead of being ridden by jockeys, are also highly popular. The thundering of sulkies racing over dirt or artificial surfaces, with horses vying for a top position by putting in a lot of effort, is a breathtaking sight. Harness races are also a hidden gem for newcomers to horse racing who want to experience the excitement and spectacle of this thrilling sport.

While the term is commonly used in reference to political contests, horse race can be applied to any close form of competition. For example, a company’s succession “horse race” pits two or more senior executives against each other in an overt battle for performance — with the winner becoming the next chief executive officer. Some governance observers and executives are uncomfortable with the horse race approach, fearing that it can lead to a protracted CEO search, but research shows that companies that adopt this strategy produce exceptional leaders.