Abstarct: The aim of this study was to investigate the effect of involvement on the satisfaction of horse racing spectators, with the moderating role of perceived value. In terms of objective, this research was applied, and in terms of time, it was cross-sectional and classified as quantitative research. The statistical population of this study consisted of spectators of horse racing events in Aqqala, from which 166 individuals were selected as the sample using convenience sampling. The research instruments were three standard questionnaires: Satisfaction, involvement (Brown et al., 2016), and Perceived Value (Byon et al., 2013). The validity of these questionnaires was reviewed and confirmed by a number of sports management experts and professors. To determine the reliability of the questionnaires, a pilot study was conducted among spectators of horse racing in Aqqala, and the Cronbach's alpha results indicated that the questionnaires had acceptable reliability. Structural equation modeling was used to test the research hypotheses, employing SPSS version 25 and SmartPLS 4 software for data analysis. The findings showed that spectators' involvement for equestrian sports has a positive, direct, and significant effect on increasing their level of satisfaction with the events. In other words, the greater the spectators' involvement and interest in this sport, the higher the satisfaction they are expected to derive from the experience of watching the competitions. However, the findings indicated that perceived value does not play a role in altering the intensity of this relationship and does not act as a moderating variable. This means that the impact of involvement on satisfaction is independent of the level of value perceived by the spectators. baxsed on the findings, managers and organizers of horse racing events can enhance the factors that create passion in spectators (through interactive programs and improving the emotional experience), thereby paving the way for increased spectator loyalty and satisfaction.