Cheltenham Gold Cup chasers as Arkle, Best Mate, Golden Miller, Kauto Star and Mill House. The Gold Cup is the most valuable non-handicap chase in Britain, and in 2014 it offered a total prize fund of £550,000. The first horse race known as the Cheltenham Gold Cup took place in July 1819. It was a flat race, and it was contested over 3 miles on Cleeve Hill, which overlooks the present venue. The inaugural winner, Spectre, won a prize of 100 guineas for his owner Mr Bodenham. The Cheltenham Gold Cup was first run as a jumps race on 12 March 1924. The
Horse racing wasn't until the 1920s that modern horse racing involving betting developed. The nation's first authorised club, the Chosun Racing Club, was established in 1922 and a year later, the pari-mutuel betting system was officially adopted for the first time. The Korean War disrupted the development of horse racing in the country, but after the Seoul Olympics in 1988, the Olympic Equestrian Park was converted into racing facilities named Seoul Race Park, which helped the sport to develop again. The big race in the UAE is the Dubai World Cup, a race with a purse of US$10 million, which was the