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),
2014 Melbourne Cup $3.6 million, as well as a solid gold trophy valued at $175,000. Hosted by the Victoria Racing Club, the Melbourne Cup was one of four major Group-1 races held at Flemington during the Spring Racing Carnival (the others being the Victoria Derby, the Crown Oaks, and the Emirates Stakes). An estimated $800 million was wagered on the race, which was attended by 100,794 people. The field for the 2014 Melbourne Cup consisted of 24 horses, with the barrier draw conducted three days prior to the race, after the conclusion of the Victoria Derby meeting. The field was one of the