Horse racing is a sport in which thoroughbred horses compete for a prize purse. The sport is characterized by a series of races in which a jockey tries to win a wager placed on the outcome of each race. The sport of horse racing dates back to medieval times, when chariots pulled by horses carried knights and noblemen. In modern times, horses are trained to run fast and are ridden by professional jockeys. In addition to being a popular sport, horse racing has become a major industry. In the United States, horse racing has generated over $12 billion in revenue since its inception. However, the sport has been criticized for its treatment of animals and the fact that it is a dangerous sport.
In the United States, there are approximately 11,000 registered horse racing tracks. Many of these are privately owned and operated by individuals or corporations. In addition, there are several government-owned tracks. A significant number of racetracks are situated in the state of New York. New York has the most racetracks of any state in the country.
The history of horse racing is closely linked with that of American democracy. For example, the American revolution began in 1775, when colonists took to the local racetracks to watch a horse race, and in 1888, the Boston Journal used the word “horse race” as the title of its election coverage (Littlewood 1999). Since then, election polling has been widely used to inform the news media on who is leading in an electoral contest, encouraging journalists to treat political campaigns as horse races and focus on candidates’ popularity and momentum.
As a result, there has been considerable criticism of horse race journalism as an inappropriate form of election coverage. Those who support horse race reporting argue that most voters are more interested in who is ahead or behind than they are in specific issues and that using familiar sports language can help to arouse interest in otherwise obscure politics.
For decades, nearly every thoroughbred that ran in a race was given a dose of the diuretic Lasix on race day. This drug is injected under the skin of a horse to prevent pulmonary bleeding, which hard running can cause in some horses. This condition can be fatal, and although a small minority of thoroughbreds are serious bleeders, the vast majority of those who race require Lasix to compete safely.
Companies that employ a horse race approach to corporate leadership find that the process is effective in selecting the most qualified CEO from among several capable executives. This strategy also cultivates a culture of corporate accountability, and it is essential to the health of any organization. Nonetheless, some directors are anxious that an overt succession horse race will sap company momentum. To avoid such a fate, companies should carefully evaluate their culture and organizational structure before adopting this approach to leadership.