Horse racing is a form of gambling in which participants wager on the outcome of an animal race between two or more horses. Horse racing has long been practiced throughout ancient civilizations such as Egypt, Rome and Babylon; moreover it features prominently in myth and legend such as Odin’s battle against Hrungnir from Norse mythology.

The most renowned flat races worldwide – such as the Prix de l’Arc de Triomphe, Melbourne Cup, and Japan Cup – require both speed and stamina over long distances to succeed. Furthermore, winners are often extremely well-rewarded financially while luxury brand sponsorships add prestige.

At Thoroughbred horse racing, however, lies an ugly underworld: injuries, drug abuse, breakdowns and slaughter. Horses used for racing must sprint at high speeds with whips or illegal electric shockers in place as a threat, leading to muscle skeletal issues, hemorrhaging from the lungs and sometimes death resulting.

US racetracks number only 300 licensed racetracks and only six are still operating regularly, mostly located in Florida and California, most having closed due to financial difficulty or diminishing attendances; the remaining racetracks rely heavily on taxpayer subsidies – for instance in New York Yonkers draws in over $5 billion annually through its adjacent casino, primarily patronized by aging baby boomers – this money pays purses, sends funds directly to Faraldo’s group as well as stimulating an entire industry of breeders, trainers as well as farmers producing carrots and hay!

As gambling remains so lucrative and widespread, certain politicians have attempted to limit horse racing and ban certain forms of wagering; their efforts have become even more crucial as more individuals have become aware of animal cruelty issues associated with gambling and addiction issues associated with it.

Supporters of the horse race approach argue that it can inspire employees from all levels to compete for leadership positions within a company, as well as help identify an effective leader at an optimal time for that specific organization. Critics argue that an obvious succession horse race can impede business momentum and undermine credibility for your company. Furthermore, such an extended competition can result in diverging leadership styles as well as divert attention away from more essential aspects of its strategy. At its core, success of a leadership horse race depends on several variables – most importantly the culture and organization structure of your company are ideal. Before embarking on such an undertaking, the board and current CEO should carefully consider whether the benefits outweigh risks before engaging in such an endeavour. They should have an in-depth knowledge of senior leaders within your organization as well as whether any winner of such contest can deliver on company strategy at that particular moment in time.