Founded in 1982 by John R. Gaines, a leading thoroughbred owner and breeder, the Breeders' Cup is the season-ending championship of North American Thoroughbred horse racing.

Each race is worth $500,000 up to $5,000,000 and is limited to 12-14 starters:
$500,000 Breeders' Cup Marathon
$1 million Breeders' Cup Juvenile Fillies Turf
$1 million Breeders' Cup Filly & Mare Sprint (gr. I)
$2 million Breeders' Cup Juvenile Fillies (gr. I)
$2 million Breeders' Cup Filly & Mare Turf (gr. IT)
$2 million Breeders' Cup Ladies' Classic (gr. I)

$1 million Breeders' Cup Juvenile Turf (gr. IIT)
$1 million Breeders' Cup Dirt Mile (gr. I)
$1 million Breeders' Cup Turf Sprint
$2 million Breeders' Cup Juvenile (gr. I)
$2 million Breeders' Cup Sprint (gr. I)
$2 million Breeders' Cup Mile (gr. IT)
$3 million Breeders' Cup Turf (gr. IT)
$5 million Breeders' Cup Classic (gr. I)
 
The tournament takes place every year, previous race tracks include: Santa Anita Park, Monmouth Park, Churchill Downs, Belmont Park, Lone Star Park, Santa Anita Park, Arlington Park, Belmont Park, Churchill Downs, and others.