On the authority of Abu Hurairah – may God be pleased with him – that the Messenger of God – may God’s prayers and peace be upon him – said: “There is no racing except in a slipper, a hoof or a blade.” It was narrated by Abu Dawood, Al-Tirmidhi, Al-Nasa’i and Ahmad, and its chain of transmission is authentic.
It is inferred from his saying “or hoof” that horse racing is permissible, and that the prize for horse racing should be from the competitors or from others. This is due to the importance of horsemanship, and to urge learning.