A horse race is a competitive contest that pits several candidates against one another to win the top job. Proponents of the horse race approach to succession say that a rigorous, transparent process that allows multiple executives to compete for the CEO role is necessary for companies to attract and retain talented leaders. However, many governance observers and corporate leaders are uncomfortable with the horse race model and believe that it can have a negative impact on an organization.
The oldest and most prestigious horse race is the Melbourne Cup, a 3,200-meter (2 miles) steeplechase run annually in Australia. This famous race was first held in 1861 and is considered to be the most prestigious horse racing event in the world. Whether betting on the winner or enjoying the spectacular atmosphere of the grandstand, this race has something for everyone.
Unlike some other sports, in which fans cheer a particular athlete, many horse race fans root for a specific jockey or the horse that they name. The success of Seabiscuit, a powerful, beautiful thoroughbred with a winning attitude, inspired the loyalty of countless horse race fans and contributed to its popularity. In addition to being a popular spectator sport, the horse race is also an important source of gambling revenue for state governments and private owners. In the United States, the sport accounts for about 4% of annual state tax revenues and is a major source of employment in the country’s gaming industry.
There are a variety of horse races, each with its own unique set of rules. Some races are restricted to certain ages, genders, or breeds of horses. Others are handicapped, with a race secretary or track handicapper assigning weights to even the playing field of each horse. Claiming races are a type of handicapped race that is meant to allow horses with similar abilities to compete against each other. The risk of running a claiming race is that the horse may be claimed by someone else, who will take over ownership of the animal and receive 40% of any winnings.
While the most egregious abuses of horses in racing are well-documented and in the public eye, the animal advocacy informants in the study identified routine training and husbandry practices, human-horse interactions, and the “everyday life of a thoroughbred” as where the real horse welfare issues lie in the industry. As long as humans continue to bet on the outcome of a horse race, there will always be an incentive to exploit these intelligent, gentle animals. If you care about horse welfare, boycott the racetrack and instead place your money on a football match or any other sport that treats its participants as willing athletes, not mistreated livestock.