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Horse racing is a globally recognized event and in some countries it is even considered to be as popular as their major sporting events. In the US, horse racing is second to baseball—the national game of America—when it comes to attracting spectators. In 1989, about 56,194,565 spectators came to watch 8,004 days of horse racing, placing bets amounting to $ 9.14 billion. In other countries, such as Australia, Canada, Great Britain, Ireland, New Zealand, South Africa, South America and Western Europe, horse racing are also held in high regard. In Australia, the Melbourne Cup, which is held annually in the first Tuesday of November, is said to bring the whole nation to a halt because of so many Aussies either going to the event or watching the races in their television sets.

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