Despite its glamorous façade, horse racing is a cruel industry of injuries, drug abuse and gruesome breakdowns. Pushed beyond their limits, these magnificent animals sprint-often under the threat of whips and illegal electric shock devices-at speeds so high they frequently sustain severe injuries, including hemorrhage from their lungs. When their careers end, the horses that survive are often euthanized, and the few that make it into retirement often find themselves in slaughterhouses where their flesh is turned into cheap meat.

The sport’s popularity is partly due to the power and beauty of the horses themselves. Their legs, which rarely touch the ground, propel them at speeds up to 45 miles per hour. Their heartbeats rise to an excessive 250 beats per minute, a level of exertion that can cause collapse. And if they do not make it to the finish line, the odds are they will be killed by the trainer.

In the United States, horses can be entered in races of three different kinds: dirt, turf and grass. Each type of track has its own distinctive surface that affects the horse’s footfall and stamina. The pedigree of a horse is another key factor in whether it can compete. To run in a conventional race, a horse must have a sire and a dam who are purebred individuals of the same breed.

Horse racing has long been an exciting and profitable business for the owners, trainers and jockeys. However, in recent years, it has been plagued by scandals involving illegal drugs and the mistreatment of horses. These scandals have resulted in increased scrutiny of the industry, which many believe is a factor in its decline in popularity.

A horse that is favored to win a race based on its past performance and the odds on offer. Usually the highest odds are on the favorite.

Those who bet on horses often identify with one or more of them. Historically, hardcore daily bettors cheered specific horses such as Seabiscuit. Others simply rooted for a number, “Come on — Number Three!”

The horse that is the lowest in the betting odds. These are horses that have been placed in the claiming races, which are typically lower than the graded stakes. Some of these races have restrictions, such as requiring the horse to be bred in the state in which they are running.

A horse that is a good bet to win the race, usually at a low price. Often, the horses are favored to win, which results in a large payout to those who bet on them. Occasionally, these horses are not favored to win but are still bet because they are considered good value for the money. The most popular method of handicapping a horse is by using the Beyer Racing Rating, which assigns a numerical value to each runner based on their final time and track conditions. This is the system most commonly used in the United States. In other countries, handicapping systems are more complex.