Yacht racing is a sailing sport involving sailing yachts and larger sailboats, as distinguished from dinghy racing, which involves open boats. It is composed of multiple yachts, in direct competition, racing around a course marked by buoys or other fixed navigational devices or racing longer distances across open water from point-to-point. It can involve a series of races when buoy racing or multiple legs when point-to-point racing.As yacht racing became more prevalent, and yacht design more diverse, it was necessary to establish systems of measurements and time allowances due to the differences in boat design. Longer yachts are inherently faster than shorter ones; therefore, in the interests of fairness, in the 1820s a “primitive system of time allowance was introduced on the Solent.”[12] Larger yachts were handicapped; but owners with the biggest vessels had a problem with the allowance system, for they preferred that crossing the finish line first, much as in foot and horse races, should suffice to win the contest. As a result, both ratings and “one-design” competition were developed.

Ratings systems rely upon some formulaic analysis of usually very specific yacht-design parameters such as length, sail area, displacement, and hull shape. During the 1920s and through the 1970s the Cruising Club of America established a formula by which most racing/cruising boats were designed during that period. After its descendant, the mathematically complex International Offshore Rule (IOR) of the 1970s, contributed to much decreased seaworthiness (and even speed), the simpler Performance Handicap Racing Fleet (PHRF)[13] system was adopted. The PHRF uses only proven performance characteristics, especially theoretical sailing speed, as a means to allow dissimilar yachts—typically crewed by friends and families at clubs rather than by professional crews—to race together. Most popular family-oriented cruising sailboats will have a rating filed with a local chapter of the PHRF.