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 of the first Melbourne Cup in 1861 received a gold watch. The first Melbourne Cup trophy was awarded in 1865 and was an elaborate silver bowl on a stand that had been manufactured in England. The first existing and un-altered Melbourne Cup is from 1866, presented to the owners of The Barb; as of 2013, it is in the National Museum of Australia. The silver trophy presented in 1867, now also in the National Museum of Australia, was also made in England but jewellers in Victoria complained to the Victorian Racing Club that the trophy should have been made locally.