A horse race is a contest of speed or stamina between two horses. It can be run on flat or jumping courses and can take place over various distances. The winner is declared by the stewards based on a number of factors. This includes the time it takes for each horse to cross the finish line as well as its overall performance throughout the race. Horse races have a rich history and have evolved from primitive contests of speed to sophisticated spectacles with huge crowds and state-of-the-art electronic monitoring equipment. But the basic concept remains the same: the horse that crosses the finish line first is the winner.

Unlike many other sports, horse racing has survived technological advances. While horse races still employ a lot of traditional traditions, there are now sophisticated thermal imaging cameras for post-race analysis, MRI scanners and endoscopes to detect potential problems before they can get out of hand and 3D printing to produce casts, splints, and even prosthetics for injured horses. This means that horse racing can continue to evolve without losing its essential appeal.

While there are a variety of horse races, there are four primary ones that most people are familiar with: the Kentucky Derby, Preakness Stakes, Belmont Stakes and Prix de l’Arc de Triomphe. These are known as the Triple Crown and only 13 horses have completed it. In addition to these, there are numerous other horse races worldwide.

There are several different ways to bet on a horse race. The most common way is to bet to win, where you bet that the horse will come in first place. This bet is rewarded with a higher payout on average than betting to place. Betting to show is also possible, but the payoffs are lower than those for winning bets.

The emergence of standardized races began with the King’s Plates in 1751, which required a six-year-old to carry 168 pounds in 4-mile heats. The escalating size of prize purses, breeding fees and sale prices have caused fewer races to be held at this age, and today the classics are generally limited to three-year-olds.

In Europe, jumps horses usually start their careers in National Hunt flat races as juveniles, then progress to hurdling and finally steeplechasing if they are deemed capable. They are typically graded by racing officials and handicappers from around the world, who systematically assess their performances to compile a ranking order that is published each year.

The IFHA World Thoroughbred Horse Racehorse Rankings are a key component of the global rating system for thoroughbreds. Its ratings are compiled by racing officials and handicappers from five continents who agree on an assessment of a horse’s merit based on its performance in elite races. These rankings are used as a guide for owners and trainers when selecting their next challengers, and for punters looking to back the best horse in the field. In addition, the IFHA’s ranking order can be used to determine which horses are eligible for a wide range of races, including the Breeders’ Cup.