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The first long-distance auto race in the U. S. was held May 30, 1911, at the Indianapolis Motor Speedway. The winner averaged 75 miles an hour and won a 1st place prize of $14,000. Today the average speed is over 167 miles an hour and the prize is more than $1.2 million. Indianapolis Motor Speedway is the site of the greatest spectacle in sports, the Indianapolis 500. The Indianapolis 500 is held every Memorial Day weekend in the Hoosier capital city. The race is 200 laps or 500 miles long.