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 (greyhounds) collects a gold trophy and presentation rug. In April 2012, Greyhound Racing Victoria announced a $6 million increase to prize money, including $450,000 to feature events at Sandown Park. This allowed the club to significantly increase the prize money for the Melbourne Cup, as well as several other feature races. All Group 1 events at Sandown Park will now carry a minimum $100,000 first prize. Melbourne Cup (greyhounds) The Melbourne Cup is the world's richest and most prestigious greyhound race. In 2016 it was reported that the race had a prize-winning pool of 600,000. The Cup was first run in