What Happens in a Horse Race?
Horse racing, in which people place bets on a Thoroughbred horse to win a race, is a popular sport that has been around for thousands of years. Archaeological evidence shows that the sport was practiced in ancient Greece, Rome, and Babylon. Horse races were even a major part of Norse mythology. Today, horses still race at venues all over the world and have become a global industry.
In a horse race, bettors cheer on specific horses by name rather than by their numbers. They may also make wagers on individual jockeys and the horse’s trainer or owner. Bettors also use their eyes to evaluate a horse’s appearance, looking for a bright coat and rippling muscles. A horse that balks at the starting gate is often viewed as being frightened or angry, so bettors will not back him.
As the race nears its end, the horses and riders speed into a sort of equine pit row. During this process, a rider will exchange his mount with a teammate, giving up the horse and accepting another one in return. Mongolian Groom’s rider, Abel Cedillo, a journeyman from Guatemala, took the new horse. He looked for a good spot in the pack, where he could get a lead and then run on to the finish line without running out of gas.
When he found it, he accelerated out of the pit row and headed into the backstretch, where a bank of TV screens broadcasting the race was packed with tens of thousands of bettors. They wore suits and ties, sipped mint juleps, and threw money on their favorite horses. Then they listened to the curses—in Spanish and Chinese, among other languages—that rose with the horses’ stretch runs.
Behind the glamorous facade of horse racing is a world of gruesome injuries, drug abuse, and slaughter. Fortunately, recent improvements in training methods and a growing awareness of animal cruelty have led to increased reforms. But these changes will not save the horse racing industry unless it can purged of its most heinous practices.
When it comes to choosing a company’s next leader, some board members and executives believe that an overt horse race can provide the best results. Proponents of this approach argue that allowing several strong internal candidates to compete for the top job will encourage them to work together and improve collaboration throughout the organization. In addition, a horse race can help the board ensure that it is selecting the right executive for the position. But, before deciding to implement this strategy, boards should consider whether their organization’s culture and organizational structure are compatible with an overt horse race. They should also determine whether a horse race will have the desired effect on the company’s overall performance and leadership development. In many cases, a more measured approach is better suited to the company’s needs.