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),
Spring Racing Carnival turns its attention to the racing. There is also an Autumn Racing Carnival, a time where Group One races are also held. The carnival, and particularly the Melbourne Cup attracts the interest of many people otherwise uninterested in horse racing, and special forms of very low-stake gambling are often used for this event. One common form for groups such as office staff is the "sweep", where each participant adds a small fee to a "pot" and draws the name of a horse like a raffle. Prize money is distributed to the person who draws the winning horse (occasionally smaller prizes