The racing industry encompasses various competitive events where participants, often horses, cars, or motorcycles, race against each other for speed and skill. This industry includes different types of racing, such as thoroughbred horse racing, Formula 1, and NASCAR, each with its own set of rules, venues, and fan bases. In addition to the races themselves, the racing industry involves significant economic activities, including betting, sponsorships, and merchandise sales. Major events, like the Kentucky Derby or the Monaco Grand Prix, attract large audiences and generate substantial revenue, making racing a vital part of the sports and entertainment sectors.