Horse racing is a prestegious sport and is often called the “Sport of Kings.” Gambling on horse racing in 2001 generated a market of about $115 billion US dollars. Horse racing takes place on just about every continent in the world.

The most famous race horse in Australia horse racing was “Phar Lap.” Phar Lap was foaled in New Zealand and trained and raced in Australia. Phar Lap was a champion thoroughbred who became the darling of the Australian racing circuit during the depression. Phar Lap raced from 1928 to 1932 and won the Melbourne Cup in 1932, two Cox Plates and 19 other weight for age races. He won the Agua Caliente Handicap in Tijuana, Mexico in his final race in track record time. Phar Lap dies in 1932 after a mysterious and sudden illness. His mounted hide is on display at the Melbourne Museum, his skeleton is on display at the Museum of New Zealand Te Papa Tongarewa and his heart is at the National Museum of Australia in Canberra.

The horse racing industry in Australia is one of the three leading horse racing nations in the world. The world famous “Melbourne Cup” is called the “race that stops the nation” and attracts many international entries. Australia’s first country club was established in Wallabadah in 1852, and the “Wallabadah Cup” is still run on New Year’s Day.

Australia has more race tracks than any other nation. It is second to the United States in the number of horses starting races each year. Australia is third after the United States and Japan for the amount of prize money distributed annually. Thoroughbred racing ranks third in spectator sport, in Australia, with Australian rules football and rugby being number one and two, respectively.

The two forms of racing in Australia racing is flat racing and steeplechase racing. Flat racing is run over a level track at a predetermined distance. Flat racing is a test of speed, stamina and jockey skill. The Steeplechase is a form of horse racing and involves racing a course and jumping fences and ditches. The race is a test of speed and rider skill as the horse and rider traverse the course.

Racing in Australia is governed by the Australian racing Board. This body supersedes the power and the rules of the individual racing clubs. This body is responsible for establishing the rules of racing, in addition to the local rules, establishing and maintaining the pattern racing committees and grading races, as well as, allocating race status. The Board also establishes racing advisory boards to maintain uniformity between states and establish an accepted national racing calendar.

Horse race betting can be done in four ways. On-track book makers offer fixed odds betting on wins and losses. Off track betting was controlled by the state government which offered pari-mutuel betting. SB bookmaking was illegal off-course betting that took place in pubs and private clubs. Lastly, there is person to person betting where members set their own prices and pay a percentage of winnings in commission.

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