Horse racing is an ancient and diverse form of competition in which horses are raced by jockeys or pulled behind sulkies to compete on racetracks. One of the oldest forms of athletic competition, it has been practiced across numerous civilizations throughout its long history – from ancient Greece through to modern-day technology and betting options.

Betting on horse racing involves understanding various terms such as ant-post, claiming, and photo finish. Early races were match races between two or at most three horses with any withdrawal forfeiting half (later all) of the purse; bets were placed according to an agreement recorded by disinterested third parties known as “keepers of the match book.”

In 1729, the British Horseracing Authority first outlined a set of standardized racing regulations. Since then, various national organizations have created their own set of rules; most remain consistent across board.

Horses must be ridden safely, following the course by jumping any hurdles present and crossing the finish line in order to win a race. Prize money for such races is distributed among first, second and third place finishers with additional awards given out if necessary; otherwise a winner is determined using an official’s photographic documentation at the finish line.

Before each race begins, horses will walk slowly around in a walking ring. Bettors often assess this stage to see whether a horse’s coat is glossy enough for running; racers might observe their stride to measure how far each step covers.

Among the most prevalent horse races are conditioned and open claiming races. These types of events often take place once horses have competed through the claiming ranks – typically races beginning with a claiming tag of $75,000 or higher – before transitioning them into allowance races for extra prize money. Trainers frequently enter horses into these events to rake in additional prize money before moving them up into more elite events like allowance races.

Horse racing has recently seen its fair share of controversy in the U.S. Since 2008 and 2009 respectively, two deaths at races — Eight Belles in Kentucky Derby 2008 and Medina Spirit in a New York race 2009 — prompted public discussion regarding safety and ethics of the sport. Yet despite these issues, horse racing has made significant technological advancements since 2008: MRI scanners, X-rays and thermal imaging cameras are used to ensure horses remain healthy both on the track and off it; 3D printing technology is being utilized to produce casts, splints and prosthetics for injured horses — innovations which help prevent serious physical stress caused by exponent physical stress of this sport.