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Douglas Harper's Etymology Dictionary
horse-race

also horserace, 1580s, from horse (n.) + race (n.1).

Wiktionary
horse-race

n. (attributive of horse race English)

WordNet
horse-race

v. compete in a horse race

Usage examples of "horse-race".

In these troubled times, however, horse-racing was no longer confined to the course at Kamo in May, but took place in shrine compounds, on the estates of the courtiers and noblemen who entertained the Emperor or the ex-Emperor and their ladies, on the broad stretch of Second Avenue, or were even improvised at imperial picnics.

As amorousness is the pastime of players of stringed instruments, and horse-racing the relaxation of the brass section of the orchestra, so eating is the pleasure, and sometimes the vice, of singers.