Horse racing is a sport that has always been popular with spectators. The beauty and power of the horses and the prospect of pay day, if a long shot won, attracted bettors. But behind the romanticized facade of horse races is a world of injuries, drug abuse, and gruesome breakdowns. The industry thrives on the money that spectators spend betting on the race. This money is then pumped back into the sport through purses and wagering pools. The money from these pools, in turn, is used to fund veterinary care for the horses and to keep the tracks open.
The horses that race in flat horse races, such as those run at the New York track, are called thoroughbreds. They are genetically purebred, meaning they have the same father and mother as other horses of the same breed. A horse’s pedigree is important for a few reasons: It is one of the factors that determine whether it can compete in the race; it also influences its speed, which is measured by a system known as a speed figure; and it can influence a horse’s chances of winning.
A horse’s speed figure depends on its age and the length of the race. Younger horses tend to have higher speeds than older ones, and shorter distances require faster speeds than longer ones. Generally, a horse’s speed figure increases between ages 3 1/4 and 4 1/2, when it is at its peak.
To calculate a horse’s speed figure, a computer program analyzes data from the race and compares it to a database of past performances. It looks at the distance of the race, the type of course — dirt, turf or all-weather surface — and the average speed of a similar group of horses. It takes into account a number of other factors, including the position of the winner and the amount of time that was needed to win.
Once the speed figures are calculated, they can be compared to a betting pool. If the pool is a Pick 6, for example, the total payouts are calculated based on how many correct selections are made. A pool may pay out partially if no one selects the exact finish, in which case the left over money will be added to the next instance of that same pool. This can lead to large pools and carryovers.
The money from a horse race comes from ticket sales, hospitality, merchandise purchases at the track, licensing for TV or simulcast and gambling. The majority of the funds goes toward the prize purse. The larger the purse, the more attention a race attracts and the higher quality of the horses it can draw. This can lead to a resurgence in the popularity of horse racing, which adds $36 billion to the economy each year and supports half a million jobs. But despite the popularity of horse racing, animal rights advocates point to its cruel treatment of horses, which are forced to sprint at such high speeds that they often sustain severe injuries and, in some cases, hemorrhage from their lungs.