STAKES
RACES
In
stakes races owners of horses are required to submit certain fees (nomination
fees, entry fees, and starting fees) to make their horses eligible to
compete. These are th "stakes," all of which go to the winning
owner. The racetrack adds a purse-value (called added-money) intended
to attract the best horses and this added-money represents the lion's
share of the revenue to winning owners, trainers, and jockeys, all of
whom are in keen competition to buy, train, and ride the best horses.Stakes
races naturally are intended to attract the best horses, but handicappers
confront a fantastic variety of stakes and purses. The variation can
be confusing, but need not be. A convenient way to think about races
is that they can be arranged in a hierarchy from least important to
all around most important. Once handicappers have learned how horses
move up and down and in the stakes hierarchy, they will have arrived
at the guts of these fascinating races.
STAKES
HIERARCHY IN THE MODERN SPORT
RESTRICTED
STAKES
These bar former winners of a stakes races or of a race
or two having a specified winner's share since a specified time and
belong at the bottom of the stakes hierarchy.
OPEN
STAKES
Any owner can run his horse in an "open" stakes
just by submitting any necessary nomination, entry, and starting fees.
Open stakes vary widely as to talent and strength and are best compared
by purse sizes. Most open stakes will be superior to restricted stakes,
but by no means all.
LISTED STAKES
This is a sub-category of open stakes having a minimum
purse value of $50,000-added and judged sufficiently important to be
"listed" on the pages of international sales catalogues (which
owners and horsemen rely upon to buy horses based upon pedigree records).
GRADE
3 STAKES
The lowest of three levels of graded stakes, the grading
is determined annually by North American Stakes committee, based upon
the committee's evaluation of the Stakes overall continuous strength
and talent. Grade 3 and Listed stakes can be considered by handicappers
as essentially interchangeable in quality, and best distinguished by
the size of the purse. Grade 3 and Listed stakes are definitely superior
to open stakes that are ungraded and unlisted.
GRADE
2 STAKES
Prestigious
stakes having relatively high purse values whose winners will be among
the best horses in training and deserve high recognition and reward.
GRADE
1 STAKES
The
best, most prestigious of stakes races whose winners not only gain high
recognition and reward as among the best horses in training, but also
obtain breeding value and will represent the improvement of the breed
at stud. Multiple Grade 1 winners can be considered superior to Grade
2 winners and Grade 1/Grade 2 winners are clearly superior to other
stakes winners.
THE
CLASSICS
A
small sub-category of Grade 1 races at a distance of a mile and one-quarter
or longer and popularly identifiable with champions and near-champions.
The true classics in the United States are The Kentucky Derby, The Belmont
Stakes, The Travers Stakes, and the Breeders' Cup Classic, three of
the four limited to three-year-olds and all four for males. (females
are eligible)
