For your information, there are not just business deals that make the world go around! The California Chrome horse commanded $40, 000 per race during its peak stage. For the upcoming Breeders Cup Classic, you are planning to invest on the latest set which is participating. However, whom should you consult to start off this procedure? An important point to note – the horse racing federations have their own laws and must maintain certain stakes.
Interested to know in detail about how horse federations operate? Read on!
Insight into the horse race federations
There are specific racing authorities that conduct the whole process. Back in 18th century, there were English classic races, and next in the 19th century, the French classics came to forefront. These jockey clubs have their own set of rules, and then in 2006, the powers (at least in England) were transferred to Horse racing Regulatory Authority.
The French domain had France Galop while for American horse-riding arena there was the private North American Jockey Club. There is an International Federation of Horse racing Authorities, which is the umbrella organization and under that, the jockeys function. The issues that people discuss are – breeding of horses and horse racing events.
Functioning of the horse federations:
Queen Elizabeth’s stakes sponsor the Durban season of racing. Similarly, in the United States, the wagers offer stake money from purses.
The wagers play an important role wherein – bets were placed on first 3 horses (win/place/show) format. Apart from racetrack managements, the other options are – common betting pool (top 3 places share the profit with a management cut). If that’s not all, specialty wagers offer high payouts for these games.
In current times, government organizations are an important segment of off track betting, with online investment getting prominence.
Note: Did you know that horse racing follows a set of 12 Articles as stated by International Agreements? So before you jump into the track, do get the details right. Nobody should violate the norms.