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 in 1891 the prize changed to being a , trophy showing a Victory figure offering an olive wreath to a jockey. From 1899 the trophy was in the form of silver galloping horse embossed on a plaque, although it was said to look like a greyhound by some people. The last Melbourne Cup trophy manufactured in England was made for the 1914 event. It was a chalice centred on a long base which had a horse at each end. The trophy awarded in 1916, the first gold trophy, was a three-legged, three-armed rose bowl. The three-handled loving cup design was