Fans of The Far Hills Horse Races. October 2014. Early in the day Peggy Steinman, left, the owner of the horse Perfect Union which was racing in the 6th race, waits by the paddock area away from the parting youngsters. The Far Hills races are the falls biggest social event in New York and New Jersey area. With almost 40 thousand people at the celebration of wealth and class, only a few people watch the world class horse racing and the young adults make it a spectacle of drunken debauchery for the elite. One attended said that it is the Hamptons wealth meet the Jersey Shore class.