Emerald Downs biggest race is the Longacres Mile Handicap, a Grade III event. The race was announced in June 1935 so Longacres founder Joe Gottstein could have a signature one mile (1.6 km) race. He felt the mile was an overlooked distance, neither a sprint nor an endurance run. In order to attract racers and attention, the purse was set at $10,000, instantly the largest staked one mile (1.6 km) race in the country (and it would remain so for more than 40 years).