When the term horse race is used in a business sense, it refers to an open competition among several candidates for a senior leadership position. Proponents of this management strategy say it does more than simply identify the best fit for an organization; it also signals that the board and top executives are committed to developing high performers through a series of critical roles that provide them with the competencies, seasoning and experience they need to assume a higher-level role.

The earliest accounts of horses and jockeys racing date back to the Greek Olympic Games in 700 B.C. Riders rode bareback or hitched their horses to chariots, and the sport has entranced spectators ever since. Today, a day at the races can involve everything from wagering on the favorite to sipping mint juleps.

Behind the romanticized facade of Thoroughbred horse racing is a world of injuries, drug abuse and gruesome breakdowns. Horses are forced to run at speeds so fast that they often bleed from their lungs (a condition known as exercise-induced pulmonary hemorrhage). They are whipped with whips and doused in cocktails of legal and illegal drugs, including steroids that mask injuries and increase speed.

After years of decline, racing’s revenue is increasing, and New York state has even begun to subsidize it with billions in taxpayer dollars. Yet critics say the state is using one corrosive form of gambling to prop up another, and that it’s creating a whole new class of investors that could eventually become a political constituency for racing’s enormous subsidies.

If you are a fan of horse racing, you probably have a favorite jockey, trainer or owner who you cheer on to victory. You may even have a photo of your favorite horse hanging on your wall. However, many people don’t know that a horse’s first win doesn’t necessarily predict how well it will do in a second career.

In fact, a horse’s first win in a maiden, claiming or starter allowance race is only a small sample of what it can do in a second career. To get a more complete picture, horse racing enthusiasts must look at all of a horse’s previous races.

Annie Aguiar is a reporter with Poynter who had some fun by reaching out to reporters who cover horse racing and asking them what they think of “horse-race journalism.” Her article appeared on the website of “The Conversation.”