Stakes races are a category of horse racing that feature higher purses and more prestigious titles compared to regular races. These events often attract top horses, trainers, and jockeys, making them significant in the racing calendar. Stakes races can be classified into different levels, such as Grade I, Grade II, and Grade III, with Grade I being the highest. Typically, horses must qualify for stakes races through previous performances or by meeting specific criteria. Winning a stakes race can enhance a horse's reputation and increase its value for breeding purposes. Notable examples of stakes races include the Kentucky Derby and the Preakness Stakes.