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Horse Racing (US) or horseracing (UK) is an equestrian sport that has been practiced for millennia. It is inextricably associated with gambling. The common sobriquet for Thoroughbred horse racing is The Sport of Kings. Horse racing is an equestrian sport and major international industry, watched in almost every nation of the world. There are three types: "flat" racing; steeplechasing, i.e. racing over jumps; and harness racing, where horses trot or pace while pulling a driver in a small, light cart known as a sulky. A major part of horse racing's economic importance lies in the gambling associated with it, an activity that in 2008 generated a world-wide market worth around US$115 billion.
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