New York City Wine and Food Festival

Some two years ago, Randall Lane, the chief content officer for Forbes, and Bob Daugherty, an investor and educator, met for dinner and the conversation turned to horse racing. Both are fans of racing and they started to talk about why the sport isn't nearly as popular as the four major sports. The answer, they concluded, is that in baseball, basketball, football and hockey, the sports center around teams, leagues and standings. People fall in love with their teams, they root for them, they pay to see them play, they...