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 placed a bet on the race that year. In 2010 it was predicted that $183 million would be spent by 83,000 tourists during the Spring Racing Carnival. In New Zealand, the Melbourne Cup is the country's single biggest betting event, with carnival race-days held at several of the country's top tracks showing the cup live on big screens. It is commonly billed as "The race that stops a nation", but it is more accurately "The race that stops two nations", as many people in New Zealand, as well as Australia, pause to watch the race. Melbourne Cup The Melbourne Cup