Horseracing Wins As Treasury/IRS Issue Updated Tax Rules

If your horse wins, you receive Win, Place and Show payouts. After pulling away on a rain-soaked track, the Kentucky Derby winner has a chance to capture the elusive Triple Crown. Retrieved on 15 November Also, put to a drive, or asked to run by the jockey. Different breeds of horses have developed that excel in each of the specific disciplines. Navigation menu

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horse racing terms & glossary

The industry has for years sought legislative remedies for the policies that govern withholding. Congressmen wrote to Treasury seeking to modernize the treatment of racetrack winnings, as did Kentucky governor Steve Beshear. The NTRA wants racing fans to do the same. But in case the regulators do not understand this fact, racing fans ought to remind them. From now until June 2, they can submit comments that will reach Treasury at www.

Tax rules on horse track winnings in desperate need of modification. American Pharoah wins the Preakness. After pulling away on a rain-soaked track, the Kentucky Derby winner has a chance to capture the elusive Triple Crown. May 16, The field of horses break from the gate for the start of the Preakness Stakes. Horse racing in one form or another has been a part of Chinese culture for millennia.

Horse racing was a popular pastime for the aristocracy at least by the Zhou Dynasty - 4th century B. General Tian Ji 's strategem for a horse race remains perhaps the best known story about horse racing in that period. In the 18th and 19th centuries, horse racing and equestrian sports in China was dominated by Mongol influences.

Thoroughbred horse racing came to China with British settlements in the middle s and most notably centered around the treaty ports, including the two major race courses in Shanghai , the Shanghai Racecourse and the International Recreation Grounds in Kiang-wan , and the racecourses of Tianjin. Horse racing was banned in the Republic of China from , and the People's Republic of China maintained the ban after , although allowances were made for ethnic minority peoples for whom horse sports are a cultural tradition.

The longer race led to deaths and injuries to participating horses in both and the 11th National Games in Also, with the entry into the sport of Han majority provinces such as Hubei , which are better funded and used Western, rather than traditional, breeding and training techniques, meant that the original purpose of the event to foster traditional horse racing for groups like the Mongols was at risk of being usurped.

At the National Games, Hubei won both the gold and silver medals, with Inner Mongolia winning bronze. As a result of these factors, the event was abolished for the 12th National Games in Club horse racing reappeared on a small scale in the s. In , the China Speed Horse Race Open in Wuhan was organized as the qualification round for the speed horse race event at the National Games the next year, but was also seen by commentators as a step towards legalizing both horse racing and gambling on the races.

Almost all Chinese trainers and jockeys stabled in Wuhan. However, with the demise of the event at the National Games and the government not relenting from the ban on commercial racing, various racecourses built in recent years are all in a state of disuse: The Nanjing Racecourse, which previously hosted National Games equestrian events, is now used as a car park; [66] the Beijing Jockey Club was shut down in The racecourse in Inner Mongolia has not been active after Horse racing eventually returned to mainland China on year as one-day, five-card event for foreign horses, trainers and jockeys.

The British tradition of horse racing left its mark with the creation of one of the most important entertainment and gambling institutions in Hong Kong. Established as the Royal Hong Kong Jockey Club in , the non-profit organisation conducts nearly races every season at the two race tracks in Happy Valley and Sha Tin. All horses are imported since there is no breeding operation. The sport annually draws millions of dollars of tax revenue. Off-track betting is available from overseas bookmakers.

Jockey Club of Macau was established for harness racing. It started to conduct horse races in Horse racing in India is over years old, making India quite possibly the oldest racing jurisdiction in Asia where racing was conducted under rules. Today India has a very well established racing and breeding industry, and the sport is conducted on nine racetracks by seven racing authorities. Between them they conduct more than 21, horse races a year.

The JRA is responsible for 'Chuo Keiba' meaning 'central horse racing' , taking place on the ten main Japanese tracks. Racing in Japan is mainly flat racing , but Japan also has jump racing and a sled-pulling race known as Ban'ei also called Draft Racing. Japan's top stakes races are run in the spring, autumn, and winter.

In Malaysia , horse racing was introduced during the British colonial era and remains to the present day as a gambling activity. Within and only within the turf clubs, betting on horse racing is a legal form of gambling. Mongolian horse racing takes place during the Naadam festival. Mongolia does not have Thoroughbred horse racing. Rather, it has its own Mongolian style of horse racing in which the horses run for at least a distance of 25 kilometers.

Horse races are held in Pakistan at four different clubs. Horseracing in the Philippines began in The history of Philippine horseracing has three divisions according to the breeds of horses used. They are the Philippine-pony era , the Arabian-horse era , and the Thoroughbred-era —present. Horse racing was introduced to Singapore by the British during the colonial era and remained one of the legal forms of gambling after independence. It remains a highly popular form of entertainment with the local Singaporean community to this day.

Horse racing has also left its mark in the naming of roads in Singapore such as Race Course Road in Little India , where horse racing was first held in Singapore, and Turf Club Road in Bukit Timah where Singapore Turf Club used to be situated before moving to its current location in Horse racing in South Korea dates back to May , when a foreign language institute run by the government included a donkey race in its athletic rally.

However, it wasn't until the s that modern horse racing involving betting developed. The nation's first authorised club, the Chosun Racing Club, was established in and a year later, the pari-mutuel betting system was officially adopted for the first time.

The Korean War disrupted the development of horse racing in the country, but after the Seoul Olympics in , the Olympic Equestrian Park was converted into racing facilities named Seoul Race Park , which helped the sport to develop again. The race track complex contains two tracks with seating for 60,, a hotel, restaurants, theater and museum.

There is no parimutuel betting in the UAE as gambling is illegal. In Argentina the sport is known as turf. The Carlos Gardel's tango Por una cabeza is about horse racing, sport of which he was a known fan. Gardel was a good friend of Irineo Leguisamo, who is the most recognized Argentine jockey. At many horse races, there is a gambling station, where gamblers can stake money on a horse. Where gambling is allowed, most tracks offer parimutuel betting where gamblers' money is pooled and shared proportionally among the winners once a deduction is made from the pool.

In some countries, such as the UK, Ireland, and Australia, an alternative and more popular facility is provided by bookmakers who effectively make a market in odds. This allows the gambler to 'lock in' odds on a horse at a particular time known as 'taking the price' in the UK. Organized groups dedicated to protecting animals, such as the Humane Society of the United States and People for the Ethical Treatment of Animals , target some horse sports with claims of animal cruelty.

Horse racing and rodeo are most commonly targeted, [ citation needed ] due both to their high visibility and to the level of stress and potential physical dangers to the equines involved.

Some people may consider poor living conditions or use of whip abusive, while some may have concern with end-use of horses. In , animal rights group PETA released undercover video of alleged abuses of former race horses at a slaughterhouse in Kumamoto , Japan.

The group stated that "as many as 20," horses, including former Thoroughbred race horses, were killed in in Japan for use as human and pet food [74] the official figure for was 15, horses.

There are many dangers in horse racing for both horse and jockey: Anna Waller, a member of the Department of Emergency Medicine at the University of North Carolina, co-authored a four-year-long study of jockey injuries and stated to the New York Times that "For every 1, jockeys you have riding [for one year], over will have medically treated injuries.

The study reported 6, injuries during the years — Horses also face dangers in racing. Jockey Club in New York estimates that about horses died at racetracks in The Jockey Club in Hong Kong reported a far lower figure of. There is speculation that drugs used in horse racing in the US which are banned elsewhere are responsible for the higher death rate in the US. From Wikipedia, the free encyclopedia.

For other uses, see Horse race disambiguation. Horse racing at Golden Gate Fields , National Hunt racing , Steeplechase horse racing , and Hurdling horse race. Horse racing in the United States. List of French flat horse races , Category: Horse racing in France , and French flat racing Champion Jockey. Horseracing in Great Britain.

Horseracing in Scotland and Horseracing in Wales. List of horse races in Italy. Thoroughbred racing in Australia and Harness racing in Australia. Horse racing in India. Horseracing in the Philippines. Horse racing in South Korea. Betting on horse racing. Archived from the original on 21 December Retrieved 6 May Retrieved 12 September Archived from the original on The Horse Racing Channel. Retrieved September 16, Retrieved 17 September Tufts Cummings School of Veterinary Medicine.

Archived at Wikiwix Publication. Retrieved 8 April Retrieved on 15 November Retrieved 26 April Archived from the original PDF on Retrieved 8 December Retrieved 27 April Archived from the original on 28 May Retrieved 28 January If your horse finishes second, you receive Place and Show payouts; and if your horse is third, you receive the Show payout.

Money added to the purse of a race by the racing association or by a breeding or other fund. A person empowered to transact business for a stable owner, or empowered to buy and sell horses for an owner or breeder. A race other than claiming for which the racing secretary drafts certain conditions to determine weights. Weight permitted to be reduced because of the conditions of the race or because an apprentice is on a horse.

Also, a weight females are entitled to when racing against males. A horse officially entered, but not permitted to start unless the field is reduced by scratches below a specified number. Rider who has not ridden a certain number of winners within a specified period of time. Also known as a bug boy. Weight concession to an apprentice rider: Stable area, dormitories and often times a track kitchen, and recreation area for stable employees. Also known as "backstretch" for its proximity to the stable area.

Strips of cloth wound around the lower part of a horse's legs for support or protection against injury. A horse with a rear bar to protect an injured foot. It is often worn by horses with quarter cracks or bruised feet. A horse color that varies from a yellow-tan to a bright auburn. The mane, tail and lower portion of the legs are always black, except where white markings are present. A stainless steel, rubber or aluminum bar, attached to the bridle, which fits in the horse's mouth and is one of the means by which a driver exerts guidance and control.

A horse color which is black, including the muzzle, flanks, mane, tail and legs unless white markings are present. A bad step away from the starting gate, usually caused by the track surface breaking away from under a horse's hooves, causing it to duck its head or nearly go to his knees. A horse that is racing on the rail and is surrounded by other horses in front, outside and behind it.

A horse that is boxed in is held up and unable to gain a clear passage. Almost always done when the horse is a yearling. When a horse goes offstride.

A harness horse competes at either a trot diagonal gait or pace lateral gait. A break occurs when a horse goes offstride and into a gallop. Breakage is generally split between the track and state and in some cases, breeding or other funds, in varying proportions. Often known by the trade names Butazolidin and Butazone. Another term for a program of horse racing. For example, a person may refer to there being twelve races on the card, which simply means twelve horse races will be staged on that particular day.

Such as Fillies, 3-year-olds, non-winners of two races other than maiden or claiming etc. To collect, you must select the winner of two consecutive races. For example, you must select the winner of the first race and the second race.