This movie was out in the early 80's I think. It was about a bunch of people who raced a train to win prize money. It was set in the late 1800's or early 1900's. Some of the characters that tried to beat the train included an Englishman that rode a thoroughbred, a guy on a motorcycle with a sidecar, a young guy that rode his horse to death in the desert, a bunch of other cowboys and the winner who drug the saddle off his horse to lighten the load so they could make it across the finish line.
I'd love to know the name of this movie or even anyone that played in it. Thanks!:)

The Great Race (1965)

The Great Race is more than likely the name of the movie you seek. This is from 1965 and fits your description completely. It was a funny movie. Haven't seen it in years but remember it well as I saw it several times.