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49-474: The King George VI Chase is a Grade 1 National Hunt steeplechase in Great Britain which is open to horses aged four years or older. It is run at Kempton Park over a distance of about 3 miles (4,828 metres), and during its running there are eighteen fences to be jumped. The race is scheduled to take place each year on 26 December, and features as part of the course's Christmas Festival. The event

98-408: A different track each year. The 'National Hunt Meeting' established itself in the racing calendar, in turn moving around such courses as Sandown, New market, Derby, Liverpool, Hurst Park, Lincoln, Leicester and many others. In 1904 and 1905, Cheltenham hosted the meeting, and although Warwick was awarded it for five years after that, it then returned to Cheltenham which became the permanent home of

147-520: A local currency that is pegged to the U.S. dollar or the New Zealand dollar . The Sovereign Base Areas of Akrotiri and Dhekelia (in Cyprus ) use the euro. Since decimalisation on Decimal Day in 1971, the pound has been divided into 100 pence (denoted on coinage, until 1981, as "new pence"). The symbol for the penny is "p"; hence an amount such as 50p (£0.50) properly pronounced "fifty pence"

196-399: A penny", "two and a penny", etc. 5 shillings, for example, was written as "5 s ." or, more commonly, "5/–" (five shillings, no pence). Various coin denominations had, and in some cases continue to have, special names, such as florin (2/–), crown (5/–), half crown (2/6 d ), farthing ( 1 ⁄ 4 d ), sovereign (£1) and guinea (21s, 21/–, £1–1–0 or £1.05 in decimal notation). By

245-504: A whole host of other important races have been added to the National Hunt racing season, although many of these are geared towards generating betting turnover in the form of competitive handicaps that attract large numbers of runners. Given the sport's origins, Irish-bred and trained horses remain a dominant force in national hunt racing today. In 2005 and 2006, Irish-trained horses captured the three main prizes at Cheltenham and won

294-417: Is often pronounced "fifty pee" /fɪfti piː/. The old sign d was not reused for the new penny in order to avoid confusion between the two units. A decimal halfpenny ( ⁠ 1 / 2 ⁠ p, worth 1.2 old pennies) was issued until 1984 but was withdrawn due to inflation . Before decimalisation in 1971 , the pound was divided into 20 shillings , and each shilling into 12 pence , making 240 pence to

343-741: Is run after the Gold Cup over the same distance and is often referred to as the amateur Gold Cup. "Point to Point" racing is steeplechase racing for amateurs. Pound sterling King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee Sterling ( ISO code : GBP )

392-461: Is run over 4.3 miles (6.9 km). Notably, the 'Liverpool Grand Steeplechase' (to give its original name) was actually initiated in 1836, although the three earliest runnings have been overlooked in many historical chronicles. Organising steeplechasing in Britain, began with annual events being staged cross country over a number of fields, hedges and brooks, the earliest most notable of these being

441-676: Is the Grand National , run at Aintree in April each year. The race is a different sort of contest from the Gold Cup: it is a Grade 3 race, it is run over a distance of more than 4 miles (6.4 km), there are up to 40 runners, the course at Aintree is essentially flat, and the horses are handicapped (the best horses carry the most weight). Perhaps the most fundamental difference is that the Grand National fences are far bigger than

490-615: Is the central bank for sterling, issuing its own banknotes and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling banknotes issued by other jurisdictions are not regulated by the Bank of England; their governments guarantee convertibility at par . Historically, sterling was also used to varying degrees by the colonies and territories of the British Empire . There are various theories regarding

539-578: Is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £ ) is the main unit of sterling, and the word pound is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling . Sterling is the world's oldest currency in continuous use since its inception. In 2022, it

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588-668: The Grand National and the Cheltenham Gold Cup . The National Hunt season primarily occurs during the winter months when softer ground conditions make jumping safer for horses. The horses are significantly cheaper compared to sport horses for other equestrian sports, reason being the majority are geldings and have no breeding value. Jump Racing primarily takes place in France , Great Britain and Ireland , with some events also taking place in Australia , Canada and

637-831: The Scottish Grand National at Ayr Racecourse ; the King George VI Chase at Kempton Park Racecourse ; the Welsh National at Chepstow Racecourse ; and the Irish National at Fairyhouse Racecourse . National Hunt racing originated in Ireland , particularly in the southern counties. Early races were mainly two-horse contests known as "pounding races" that became popular in the early 18th century. These involved long trips across country where horses were required to jump whatever obstacles

686-819: The United States . In Ireland, National Hunt racing receives much higher attendances than flat racing, while in Great Britain, it is more balanced, but the different seasons (there is little top-class flat racing in Britain from November to March) mean that most fans of the sport can enjoy both forms of racing at their pleasure. National Hunt horses are often bred for jumping, while others are former flat horses but they do not have to be Thoroughbreds : many French-bred jumpers are Selle Français or AQPS . Many horses begin their racing careers in amateur point-to-pointing where they compete over steeplechase races of three miles (4.8 km). The two main highlights of

735-657: The 1950s, coins of Kings George III , George IV and William IV had disappeared from circulation, but coins (at least the penny) bearing the head of every British monarch from Queen Victoria onwards could be found in circulation. Silver coins were replaced by those in cupro-nickel in 1947, and by the 1960s the silver coins were rarely seen. Silver/cupro-nickel sixpences, shillings (from any period after 1816) and florins (2 shillings) remained legal tender after decimalisation (as 2½p, 5p and 10p respectively) until 1980, 1990 and 1993 respectively, but are now officially demonetised. The pound sterling emerged after

784-469: The Bank of England has exclusively used the single bar variant since 1975. Historically, a simple capital L (in the historic black-letter typeface, L {\displaystyle {\mathfrak {L}}} ) placed before the numerals, or an italic l. after them, was used in newspapers, books and letters. The Royal Mint was still using this style of notation as late as 1939. The glyphs Ł and Ⱡ may occasionally be encountered. Use of

833-690: The Cheltenham Festival is the Gold Cup . All races run at Cheltenham finish with a long uphill run-in in front of the stands. The Gold Cup is a Grade 1 race, run over a distance of 3 miles 2 + 1 ⁄ 2  furlongs (5.3 km). All horses carry the same weight in the Gold Cup. On numerous occasions the hill at the finish has found out the brave. Famous winners of the Gold Cup include Dawn Run (mare, ridden by Jonjo O'Neill), Arkle , Golden Miller, Best Mate, Desert Orchid & Kauto Star . The highest profile National Hunt race

882-550: The Grand National. Best Mate who captured the Cheltenham Gold Cup three successive times between 2002 and 2004, was Irish-bred, but trained and owned in England . In recent years, French-bred horses have also come to the forefront with horses such as Master Minded becoming the highest rated horse in Britain after winning the Queen Mother Champion Chase. Kauto Star who won the Gold Cup in 2007, 2009 and

931-457: The League's money was not frequently debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", which was contracted to "'sterling". The OED dismisses this theory as unlikely, since the stressed first syllable would not have been elided. Encyclopædia Britannica states that the (pre-Norman) Anglo-Saxon kingdoms had silver coins called sterlings and that

980-495: The National Hunt calendar are the Cheltenham Festival meeting and the Grand National meeting. The Cheltenham Festival is held at Cheltenham Racecourse over four days in the second week of March. On Friday, it features eleven grade one races, culminating in the Cheltenham Gold Cup , the most prestigious Chase race in the world. The Grand National meeting is held at Aintree over three days every April. Many of

1029-505: The Roman libra , solidus , and denarius . Notable style guides recommend that the pound sign be used without any abbreviation or qualification to indicate sterling (e.g., £12,000). The ISO 4217 code "GBP" (e.g., GBP 12,000) may also be seen should disambiguation become necessary. The ISO 4217 currency code for sterling is "GBP", formed from the ISO 3166-1 alpha-2 code for

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1078-658: The St Albans Steeplechase (first run in 1830). For some years, there was no regulation of steeplechasing . The sport gained a reputation as being a bastard relation of flat-racing and consequently fell into decline. A breakthrough came in the 1860s with the formation of the National Hunt Committee, and the running of the National Hunt Steeplechase. This steeplechase would form part of an annual race-meeting staged at

1127-457: The UK, national hunt racing is divided into two major distinct branches, hurdling and steeplechase , as well as flat races called " bumpers ". Hurdling involves horses jumping over hurdles , while steeplechase involves the horses jumping over a variety of different obstacles that includes plain fences , water jump or an open ditch. Some of the biggest National Hunt events of the year in the UK are

1176-659: The United Kingdom ("GB") and the first letter of "pound". In historical sources and some specialist banking uses, the abbreviation stg (in various styles) has been used to indicate sterling. Many stocks on the London Stock Exchange are quoted in penny sterling, using the unofficial code "GBX". The exchange rate of sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets . The origins of this term are attributed to

1225-601: The adoption of the Carolingian monetary system in England c.  800 . Here is a summary of changes to its value in terms of silver or gold until 1816. The pound was a unit of account in Anglo-Saxon England . By the ninth century it was equal to 240 silver pence . The accounting system of dividing one pound into twenty shillings , a shilling into twelve pence, and a penny into four farthings

1274-578: The best horses come to these festivals, which are watched by a huge television audience worldwide. Hundreds of millions of pounds are gambled on these festivals . Other important festivals are: the Galway Races – a hugely popular mixed (NH and flat) meeting in Ireland; Punchestown Festival – the Irish equivalent of the Cheltenham Festival; The Tingle Creek at Sandown Park Racecourse ;

1323-478: The common phrase "quids in"). Its origin is unknown: possible derivations include scudo , the name for a number of currency units used in Italy until the 19th century, introduced by Italian immigrants; or from Latin quid via the common phrase quid pro quo , literally, "what for what", or, figuratively, "An equal exchange or substitution". The term "nicker" (also both singular and plural) may also refer to

1372-468: The compound noun pound sterling was derived from a pound (weight) of these sterlings. The English word pound derives from the Latin expression lībra pondō , in which lībra is a noun meaning 'pound' and pondō is a noun, in the ablative case , meaning 'by weight'. The currency sign for the pound unit of sterling is £ , which (depending on typeface) may be drawn with one or two bars :

1421-568: The event returned in 1947 on a new date – Boxing Day . The King George VI Chase is now the second most prestigious chase in England, surpassed only by the Cheltenham Gold Cup . Fifteen horses have won it more than once, Desert Orchid won it four times and Kauto Star won it five times. The race is currently sponsored by the Ladbrokes Coral bookmaking firm. Most successful horse (5 wins): Leading jockey (5 wins): Leading trainer (13 wins): National Hunt racing In

1470-430: The fact that from the mid-19th century, the sterling/dollar exchange rate was transmitted via transatlantic cable. Historically almost every British coin had a widely recognised nickname, such as "tanner" for the sixpence and "bob" for the shilling . Since decimalisation these have mostly fallen out of use except as parts of proverbs. A common slang term for the pound unit is " quid " (singular and plural, except in

1519-471: The fences at Cheltenham and a number of fences incorporate significant drops. The best known fence is Becher's Brook which is 5 ft (1.5 m) high, but has a 7 ft (2 m) drop on landing and is often regarded as the biggest challenge on the course. Winners of the Grand National include Red Rum (won 3 times:1973, 1974, 1977), runner up twice (1975, 1976)); Mr Frisk (1990, the last winner to date to be ridden by an amateur jockey and still holds

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1568-514: The first 3 of a Grade 1 or 2 chase in the previous season from taking part. The two biggest Hunter Chases are the Aintree Fox Hunters' Chase and Cheltenham Foxhunter Chase . The Aintree Fox Hunters' is run as the feature race on the first day of the Grand National meeting over one circuit of the Grand National course. This gives amateur riders the chance to jump these famous fences before the professionals. The Cheltenham Foxhunter

1617-560: The fixture. Further prestigious races were added to the card during the 1920s, such as the Cheltenham Gold Cup and Champion Hurdle. As steeplechasing entered its modern era, the Cheltenham Festival became the pinnacle of the season, providing a series of championship races at which virtually all top horses would be targeted. With the introduction of sponsorship (starting with the Whitbread Gold Cup in 1957),

1666-458: The landscape threw in their way. The first recorded race of this nature is traditionally said to have taken place between the towns of Buttevant and Doneraile in the north of County Cork in 1752. The distance of the race was 4.5 miles (7.2 km). The start and finish were marked by the church steeple in each town, hence the term " steeplechase ". Point-to-point races, amateur steeplechases normally run on farmland, remain hugely popular in

1715-491: The letter ⟨L⟩ for pound derives from medieval Latin documents: "L" was the abbreviation for libra , the Roman pound (weight), which in time became an English unit of weight defined as the tower pound . A "pound sterling" was literally a tower pound (weight) of sterling silver . In the British pre-decimal ( duodecimal ) currency system, the term £sd (or Lsd) for pounds, shillings and pence referred to

1764-667: The list of Grade 1-3 National Hunt races and the list of Group 1-3 Flat races . The capital of National Hunt racing in the UK is Cheltenham Racecourse , in the Cotswolds , which hosts the Cheltenham Festival in the third week of March each year, as well as other important fixtures during the NH calendar. There are numerous well-known trainers operating in the Cotswolds including Jonjo O'Neill , Richard Phillips, Tom George, Nigel Twiston-Davies, and latterly Kim Bailey. The highlight of

1813-479: The mêlée occurred is now named "Foinavon Fence"). Other NH races of note include the King George VI Chase , run at Kempton Park on 26 December and the Hennessy Gold Cup run at Newbury at the end of November. Hunter chases take place at national hunt racecourses but are only open to horses that have hunter certificates. Hunter certificates are issued to horses that have hunted for at least four days in

1862-597: The origin of the word "sterling". The Oxford English Dictionary states that the "most plausible" etymology is a derivation from the Old English steorra for "star" with the added diminutive suffix -ling , to yield "little star". The reference is to the silver penny used in Norman England in the twelfth century, which bore a small star. Another theory holds that the Hanseatic League

1911-554: The pound. The currency of all the Crown Dependencies ( Guernsey , Jersey , Isle of Man ) and a third of British Overseas Territories ( British Antarctic Territory ; Falkland Islands and South Georgia and the South Sandwich Islands ; Gibraltar ; and Saint Helena, Ascension and Tristan da Cunha ) is either sterling or pegged to sterling at par. The other British Overseas Territories have

1960-602: The pound. The symbol for the shilling was " s ." – not from the first letter of "shilling", but from the Latin solidus . The symbol for the penny was " d .", from the French denier , from the Latin denarius (the solidus and denarius were Roman coins). A mixed sum of shillings and pence, such as 3 shillings and 6 pence, was written as "3/6" or "3 s . 6 d ." and spoken as "three and six" or "three and sixpence" except for "1/1", "2/1" etc., which were spoken as "one and

2009-405: The record for the fastest time); Aldaniti (1981, ridden by Bob Champion shortly after he had recovered from cancer. His story was made into a film); and Foinavon (1967, won at odds of 100/1 after a mêlée at the 23rd fence resulted in the majority of the field falling or refusing. Foinavon was far enough behind at that point to avoid the confusion and ran on to win by 20 lengths. The fence where

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2058-513: The reign of King Offa of Mercia (757–796), who introduced a "sterling" coin made by physically dividing a Tower pound (5,400 grains, 349.9 grams) of silver into 240 parts. In practice, the weights of the coins were not consistent, 240 of them seldom added up to a full pound; there were no shilling or pound coins and these units were used only as an accounting convenience . Halfpennies and farthings worth 1 ⁄ 2 and 1 ⁄ 4 penny respectively were also minted, but small change

2107-429: The same region and in many parts of rural Ireland and Great Britain , today. The first use of the term steeplechase on an official racecard was in Ireland in the early 19th century. The 'official' first running of the Grand National , held annually at Aintree in England, took place in 1839 and was won by an Irish horse, Lottery . The "National", as it is known, was run over 4.5 miles (7.2 km), but since 2013

2156-598: The season before racing starts in January. In addition, the jockey must be an amateur who has obtained a certificate from the hunt secretary. Unlike point-to-points , licensed trainers as well as amateur trainers may have runners in Hunter Chases. This often causes controversy when big name trainers run former Grade 1 horses in Hunter Chases as amateur trainers feel they are unable to compete. New rules which took effect in 2009, will prevent horses which have finished in

2205-470: Was adopted from the livre carolingienne system introduced by Charlemagne to the Frankish Empire . The penny was abbreviated to "d", from denarius , the Roman equivalent of the penny; the shilling to "s" from solidus (written with a long s , ſ , later evolving into a simple slash , / ); and the pound to "L" (subsequently £ ) from Libra or Livre . The origins of sterling lie in

2254-475: Was first run in February 1937, and it was named in honour of the new British monarch, King George VI . It was only run twice before World War II , during which Kempton Park was closed for racing and used as a prisoner-of-war camp . The two pre-war runnings were each contested by four horses. The winner of the first, Southern Hero, remains the race's oldest ever winner. After the war the racecourse re-opened, and

2303-486: Was second in 2008 is also French bred. Races are graded depending on their health and mental status. The most prestigious are Grade 1, then Grade 2, Grade 3, Listed, Handicaps, to Bumpers the least prestigious. The more highly graded races attract more prize money and better horses. (In flat racing the more prestigious races are Group 1, 2, and 3, then Listed). All National Hunt races are also classified in classes 1-7 (class 1 best). Graded and listed races are class 1. See

2352-471: Was the fourth-most-traded currency in the foreign exchange market , after the United States dollar , the euro , and the Japanese yen . Together with those three currencies and the renminbi , it forms the basket of currencies that calculate the value of IMF special drawing rights . As of late 2022, sterling is also the fourth most-held reserve currency in global reserves . The Bank of England

2401-576: Was the origin of its definition, manufacture, and name: the German name for the Baltic is Ostsee ( ' East Sea ' ) and from this the Baltic merchants were called Osterlings ( ' Easterlings ' ). In 1260, Henry III granted them a charter of protection and land for their kontor , the Steelyard of London , which by the 1340s was also called Esterlingeshalle ( ' Easterlings Hall ' ). Because

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