Horseracing is all about the staging of exciting races, which captivate racegoers and television viewers around the world.
The handicapper is one of the senior officials employed by the racing authority.
All horses on the handicap file are listed on a scale from 0 to 140lbs (pounds).
A glance at the handicappers' file will show the relative merits of each racehorse.
Although there is certainly a mathematical and scientific basis regarding the principles of assessing and handicapping racehorses, it is not that simple in practice.
A racehorse is not considered fully mature until he is aged four. In the Northern Hemisphere the official birthday of all racehorses is January 1st, while in the Southern Hemisphere it is July 1st (South America) or August 1st (Australasia).
Horses are rated on a pound scale from 0 (zero) to 140. The internationally accepted parameter for a Group or Grade One performer is a rating of 120 or 115 depending on where the racing takes place, while for a Group or Grade Two it is 115 or 110, and for a Group or Grade Three it is 110 or 105.
Read more about international racing.
The eighth World Thoroughbred Rankings (WTR) Conference took place in Hong Kong in December, 2008, under the auspices of the World Rankings Supervisory Committee (WRSC).