Ryder’s subject was inspired by a horse race that took place in New York during 1888. One of the artist’s friends wagered $500 on the race and then died by suicide after the horse lost. Medieval symbolism infuses the composition: death appears as a skeleton on horseback holding a scythe with which he cuts down the living, while a snake—a sign of temptation and evil—slithers in the foreground. An intense man, Ryder worked on the painting for several years and was deeply reluctant to part with it.