The division of gaming and athletics licensing shall be empowered to license race meets under the following classes:
(1) Class A. Horse running races, so-called.
(2) Class B. Competitive harness horse races that are run in connection with the grand circuit, so-called.
(3) Class C. Competitive harness horse races that are not run in connection with the grand circuit, so-called.
(4) Class D. Competitive horse races where there is no wagering.
(5) Class E. Harness racing by any incorporated association duly authorized to maintain agricultural exhibits.