The King's Cup was a handicap race dating back to 1922; each racing result was compared to the time that the committee decided each contestant should have completed the course. The greater the margin by which an entry beat its prescribed time, the better its chance of winning. Initially King George V was to present a cup to the winner, and like the Schneider Trophy, the same cup would be engraved and awarded to the new winner each year. After the first year's race it was decided that a new cup would be presented each year.