What is the ruling on prizes offered in horse racing competitions, where the nominee pays no money for the nomination coupons, and does the ruling change if participants travel from a distance of 130 kilometers?

It is not permissible to take compensation for competitions except in what has been permitted by the Sacred Law. The jurists have agreed on the permissibility of giving and taking compensation in horse, camel, and archery races, due to the Prophet's (peace and blessings be upon him) saying: "There is no prize except in archery, or camel racing, or horse racing." They differed on what is besides these three, and on religious competitions, and some of them deemed them permissible. As for competitions that have no benefit in religion or worldly matters, it is not permissible to take compensation for them, and this includes taking a prize for predicting which horse will win.