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The Breeders' Cup held in the U.S. in the fall of each year is promoted as the "world championship of thoroughbred racing." Each year more top international thoroughbreds compete against the American horses in the event, which is held over a two-day period with races covering a variety of distances. The meeting is famous for the amount of prize money that is paid out, which has been as high as $25 million in the past, and bettors attend with hopes of choosing a winner.