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Pick Pony | May 17, 2024, 1:05 p.m.
Graded stakes represent elite thoroughbred horse races in the United States where the top horses come from around the world to compete against the best - and win the largest purses. Races must meet minimum requirements and are assigned one of four grades - I, II, III, or “listed”. A similar grading system is used in Canada and Europe. Stakes that are graded high often have better potential money-making opportunities than lower-graded or ungraded races.
“Stakes” are the fees an owner must pay to participate in the race. These fees become part of the prize money offered to the top finishers. Generally, the owner first pays a fee to be considered for the race (a nomination or subscription fee). This fee is paid months in advance (the later you wait, the higher the fee). If accepted, they then pay another, larger fee to make the gate.
Stakes races are graded by the American Graded Stakes Committee, a part of the Thoroughbred Owners and Breeders Association, based in Lexington, Kentucky. This committee was created in 1973.
In 1974, The Blood-Horse published the first list of 330 North American Graded Stakes. The English Jockey Club's Weatherby’s Pattern Race book immediately included this list. In 1975, Fasig-Tipton Co. added North American grades to its catalogs, and Keeneland Association did the same in 1976. The Daily Racing Form started listing grades in 1978. By 1981, international auction houses, national breeders organizations, and racing authorities formed the International Cataloguing Standards Committee to standardize cataloging worldwide. They recognized the TOBA North American Graded Stakes Committee as the grading authority for North American races.
The American Graded Stakes Committee meets annually, usually in November or December. Armed with statistics for all the races, they operate as a Board and vote, within specific guidelines, to determine the grade for a race.
The committee uses a “workbook” to help grade races based on specific criteria.
To be listed, a race must have a purse of at least $75,000: $100,000 for Grade III, $200,000 for Grade II, and $300,000 for Grade I.
The committee’s drug testing protocol, including testing samples from the horses, must be followed. The racetrack must also be in good standing with the Horseracing Integrity and Safety Authority’s anti-doping and medication program.
Racetracks must follow the rules for androgenic-anabolic steroids and non-steroidal anti-inflammatory drugs, allowing only Boldenone, Nandrolone, Stanozolol, and testosterone. This is a minimum standard; some racing jurisdictions have even higher medication restrictions.
In addition, using furosemide (Laxis) in all Black Type races is prohibited.
Races must meet any equipment restrictions imposed by the committee. For instance, in 2008, the committee began requiring that toe grabs on horseshoes (designed to improve traction) be no longer than 2 millimeters (longer toe grabs can cause injuries to the horse).
Races may only be graded if they have two previous runnings under basically the same conditions, including purse requirements.
A race will not be graded if it has restrictive provisions such as state-bred restrictions.
Unlike restrictions, preferences can be written if the goal is to achieve the highest quality field. This may include standards such as graded wins/places, graded earnings, points from wins, etc.
At the top of the pyramid are Grade I races, the epitome of horse racing excellence. These races are a spectacle, offering substantial prizes for horses of the same age group (2, 3, or 3 and up). They are often further restricted by sex, adding an extra layer of competition.
Listed races are the lowest level of graded stakes. The participants in these races are not quite good enough to run in G1, G2, or G3 races but are pushing to make the step up to the next level.
A level down from Grade 1 and Grade 2 stakes, G3 stakes have a noticeably smaller purse and attract horses that are among the best in the country but not quite good enough to make Grade 2. This is the most common stakes race and typically draws many horses.
Grade II stakes are a cut below Grade 1 but still attract very talented horses. In fact, if a Grade II race attracts horses that normally run in G1 stakes, the race may be upgraded to G1 the following year.
This is the highest-rated race, limited to only the top-rated horses in the country. This includes the Triple Crown races—the Kentucky Derby, Preakness, and Belmont Stakes.Many Grade 1 races have weight conditions that vary with age. These “weight-for-age” conditions require weights to be adjusted only according to age and sex.