 While horses are sometimes raced purely for sport, a major part of horse racing's interest and economic importance is in the gambling associated with it, an activity that in 2008 generated a worldwide market worth around US$115 billion.Many people use a handicapper which is one who assigns weights for a handicap race and makes selections based on past performances.Horse racing has a long and distinguished history and has been practised in civilisations across the world since ancient times.