Horse racing in Japan the post Second World War economic boom. The Japan Racing Association was formally established in 1954. The Japan Cup, one of the richest horse races in the world, was inaugurated in 1981. Run at Tokyo's Fuchu Racecourse on the last Sunday in November, it continues to attract thoroughbreds from all over the world. The JRA manages the ten main tracks in Japan. Races at these tracks are called "Chuo Keiba" (meaning "central horse racing"). It provides some of the richest racing in the world. , a typical JRA maiden race for three-year-olds carried a purse of ¥9.55 million (about US$112,000),
Melbourne Cup of 18-carat gold. The winning trainer and jockey also receive a miniature replica of the cup (since 1973) and the strapper is awarded the Tommy Woodcock Trophy, named after the strapper of Phar Lap. In 2003 an annual tour of the Melbourne Cup trophy was initiated to provide communities across Australia and New Zealand with an opportunity to view the Cup trophy and highlight the contribution the Melbourne Cup has made to the Australia's social, sporting and racing culture. Each year, communities in Australia and New Zealand apply for the cup to tour to their community and the tour also