1919. France France has a major horse racing industry. It is home to the famous Prix de l'Arc de Triomphe held at Longchamp Racecourse, the richest race in Europe and the second richest turf race in the world after the Japan Cup, with a prize of 4 million Euros (approximately US$5.2 million). Other major races include the Grand Prix de Paris, the Prix du Jockey Club (the French Derby) and the Prix de Diane. Besides Longchamp, France's other premier flat racecourses include Chantilly and Deauville. There is also a smaller but nevertheless important jumps racing sector, with Auteil Racecourse being the best known. The sport's governing body is France Galop. Great Britain Horse racing in Great Britain is predominantly thoroughbred flat and jumps racing. It was in Great Britain in the 17th to 19th centuries that many of the sport's rules and regulations were established. Named after Edward Smith-Stanley, 12th Earl of Derby, The Derby was first run in 1780. The race serves as the middle leg of the British Triple Crown, preceded by the 2000 Guineas and followed by the St Leger. The name "Derby" has since become synonymous with great races all over the world, and as such has been borrowed many times in races abroad. The Grand National is the most prominent race in British culture, watched by many people who do not normally watch or bet on horse racing at other times of the year. Many of the sport's greatest jockeys, most notably Sir Gordon Richards, have been British. The sport is regulated by the British Horseracing Authority. The BHA's authority does not extend to Northern Ireland; racing in Ireland is governed on an All-Ireland basis. Greece Despite having an ancient tradition with well-documented history, all racetracks in Greece have ceased operation due to the Greek government-debt crisis. Hungary Hungary has a long-standing horse racing tradition. The first horse racing in Pest was noted on June 6, 1827. Although racing in Hungary is neither as popular nor as prestigious as it is in Western Europe, the country is notable for producing some fine international racehorses. Foremost of these is Kincsem, foaled in 1874 and the most successful Thoroughbred racehorse ever, having won 54 races in 54 starts. The country also produced Overdose, a horse who won his first 12 races, including group races in Germany and Italy, and finished fourth in the King's Stand Stakes at