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The average horse can run at about 30 miles per hour. Horses that are bred to run long distances have been recorded to run up to 40 miles per hour. Quarter horses bred for racing short distances have been reported to run as fast as 50 miles per hour. The highest race speed is recorded at 43.97 miles per hour by Winning Brew in Grantville, PA. on May 14, 2008.
A fun sport for any rider! Just to add to this answer, a horse traveling with a rider including rests and meals can travel 20 miles in a day. If pushed, a properly bred and trained horse can go 100 miles in 24 hours, but then your horse will need a long rest, so don't expect it to do that for 3 days in a row.