Horse Racing Industry Overview
From humble beginnings to world leader, British racing and breeding has led the global industry for centuries.
Horse racing has long been known as the Sport of Kings, and it was James I who first made this so. James established the small town of Newmarket as the headquarters of racing after a visit there in 1605 and both the town and the sport soon flourished.
James’s son Charles I was a frequent competitor himself in races on Newmarket Heath, and his own son, Charles II, followed in his footsteps after the Restoration in 1660, earning himself the nickname of the Merry Monarch.
Racecourses sprang up all over England, offering increasingly large purses, which in turn made the owning and breeding of racehorses for racing potentially profitable.
The next monarch to make a mark on the Sport of Kings was actually a Queen – Anne, who ruled from 1702 – 1714, and who established racing at Ascot.
With the rapid expansion of the sport came the need for a central governing authority. In 1750, racing’s elite met in Newmarket to form the Jockey Club, which for 250 years had total control of horseracing under its own rules.
The Jockey Club established standards defining the quality of races which led to certain races becoming the ultimate tests of excellence. Since 1814, five races confined to three-year-olds, were designated as ‘Classics’, namely the 2000 Guineas, the Derby, and the St.Leger – and two races open to fillies only, the 1000 Guineas and Oaks.
The pedigrees of every single racehorse can be traced to the three ‘foundation’ stallions – the Byerley Turk, the Darley Arabian, and the Godolphin Arabian. The Darley Arabian line has had the most profound effect on the modern breed; recent research estimates that around 95% of today’s racehorses can trace their descent back to this single stallion.
In its early days The Jockey Club also took steps to regulate the breeding of racehorses, and from 1793 to the present day, successive members of the Weatherby family, originally accountants to the Jockey Club, have meticulously recorded in the General Stud Book the pedigrees of every foal born.
The Jockey Club handed over the governance of racing to the British Horseracing Board in 1995. From 2007 the British Horseracing Authority has taken on the overall running of racing and is now responsible for all day to day governance and regulation.
Today, racing’s finances are controlled by the Horserace Betting Levy Board, who collect a statutory levy made upon bookmakers and the Tote on an annual basis. It is a Government appointed body established by the Betting Levy Act in 1961.
British Horseracing Authority
www.britishhorseracing.com
The British Horseracing Authority (BHA) is the governing and regulatory body for the British Horseracing Industry and ensures the continued health and successful development of the sport. There are many divisions of the BHA including Finance and Corporate Services, Communications, Raceday Operations & Regulations, Equine Science and Welfare, Race Planning, Integrity Services and Licensing. The BHA Board also delegates certain powers to a number of Committees.
http://www.britishhorseracing.com/inside_horseracing/about/BHA_Committees.pdf
British Racing School and Northern Racing College
www.brs.org.uk / www.northernracingcollege.co.uk
Both these Centres of Excellence provide courses and training facilities for those who wish to work within the racing industry.
Federation of Bloodstock Agents
www.bloodstock-agencies.com
The Federation of Bloodstock Agents (FBA) aims to establish and maintain a high level of conduct and trading practice amongst its members.
The Horserace Betting Levy Board
www.hblb.org
The Horserace Betting Levy Board (HBLB) applies funds, collected by a statutory levy on bookmakers and the Tote, to a wide range of schemes in direct support of horseracing. It is a UK statutory body that was established by the Betting Levy Act 1961 and operates in accordance with the provisions of the Betting, Gaming and Lotteries Act 1963. It is a non-departmental public body, and its sponsoring Government department is the Department for Culture, Media and Sport.
The Jockey Club
www.thejockeyclub.co.uk
At the heart of British racing for over 250 years, The Jockey Club is dedicated to improving the sport and investing in its future. All profits generated by The Jockey Club’s businesses are re-invested back into racing - it has a range of commercial assets including a portfolio of 14 racecourses, a property and land management company, and the National Stud.
The National Stud
www.nationalstud.co.uk
The National Stud provides education and training facilities for young people wishing to enter the bloodstock industry. It is also open to the public to help raise interest in the thoroughbred breeding industry.
Racehorse Owners Association
www.racehorseowners.net
The Racehorse Owners Association promotes and protects the interests of racehorse owners in Britain. The level of membership is currently around 7,500 members.
Thoroughbred Breeders’ Association
www.thetba.co.uk
The Thoroughbred Breeders’ Association is the official body representing Thoroughbred Breeders in Great Britain. It is a registered charity which was formed in 1917 and addresses a broad range of issues affecting its members, all of which have a critical bearing on the health and wealth of British thoroughbred breeding.
Weatherbys
www.weatherbys.co.uk
Since 1770, Weatherbys have served British horseracing and thoroughbred breeding by providing the sport’s administrative service, a financial agency (Weatherbys Bank) and the founding register of the racehorse breed (the General Stud Book). Weatherbys operates its racing management activity under commercial terms to the BHA and provides administration for all registrations – ownerships, colours, racehorse names – and race entries and declarations required for the day to day running of the sport.
Sales Houses
Britain is home to three of the world’s most internationally renowned thoroughbred sales companies which offer a range of thoroughbred sales throughout the year.
Tattersalls Ltd www.tattersalls.com
DBS Auctions www.dbsauctions.com
Brightwells Cheltenham www.brightwells.com
National Trainers Federation
www.racehorsetrainers.org
The National Trainers Federation represents and protects trainers’ interests by providing information, advice and support.
Racecourse Association
www.britishracecourses.org
The Racecourse Association was formed in 1907 and is the trade association of Britain’s 60 racecourses.
BBM Yearbook
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BBM Yearbook
2011
Download 2011 Yearbook (14mb)
BBM Yearbook
2010
Download 2010 Yearbook
(12mb)