Racing in England dates as far as 1530 at York. Ten years later, Chester had its first racecourse. Two-horse match races for a private wager became popular among the nobility. Thats why today horse racing remains known as the Sport of Kings.
...for those who enjoy the Sport of Kings, a reminder of greatness:
http://www.youtube.com/watch?v=cS4f6wiQJh4
(I still get chills when watching it)