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),
Horse racing a nation", has recently attracted many international entries. In country racing, records indicate that Goulburn commenced racing in 1834. Australia's first country racing club was established at Wallabadah in 1852 and the Wallabadah Cup is still held on New Year's Day (the current racecourse was built in 1898). In Australia, the most famous racehorse was Phar Lap (bred in New Zealand), who raced from 1928 to 1932. Phar Lap carried to win the 1930 Melbourne Cup. Australian steeplechaser Crisp is remembered for his battle with Irish champion Red Rum in the 1973 Grand National. In 2003–2005 the mare Makybe Diva