 At a distance of one mile, and in its 22nd running in 2015, it's a major step up for talented and hopeful young horses.The Sleepy Hollow currently offers a purse of $250,000.The race is named for the historic village of Sleepy Hollow, New York on the banks of the Hudson River made famous by the American writer, Washington Irving in his 1819 short story, "The Legend of Sleepy Hollow."