The first annual, Olympic-level event developed was the Badminton Horse Trials, held each year in England. First held in 1949, the Badminton event was created after a poor performance by the British Eventing Team at the 1948 Olympic Games, with the purpose of being a high-class preparation event, and as extra exposure for the military horses, who very rarely had the chance to compete. Initially, only British riders were allowed to compete (although women were allowed, despite being banned from riding in the Olympics), but the competition is now an international open to all riders from around the world who have qualified for this level of competition. Along with Burghley and Kentucky, Badminton is one of the most prestigious events to win in the world. Currently, the Olympic event is considered a CCI****, a rank lower than Badminton which is a CCI*****.