Bet Storm
RacingBetter News
Monday 25th March 2024

Societal Issues that are Provoked by Horse Racing

Horse race

The horse racing industry is an exciting and challenging sport that is sometimes associated with luxury, excitement and adrenaline. However, this bright picture hides the dark sides of the industry that often go unnoticed. The constant stream of information noise in the media not only creates a fertile ground for the development of gambling addiction in viewers but can also hide the negative aspects of this industry.

The racing industry: gambling, corruption, and gambling addiction

The racing industry, including horse racing, is traditionally associated with elegance, excitement, and grandeur, but behind these shiny facades lie the darker sides of the industry. Let's start with the tragic fact that ten jockeys have lost their lives since 2014, underscoring the high level of risk and danger that comes with the sport. Racetracks across the USA have set a sad new record of 168 fatalities between 2022 and 2023, raising questions about safety and ensuring proper working conditions for workers in this industry.

In addition, the racing industry continues to be saturated with organized crime and money laundering, causing much controversy and debate among fans and all participants involved in the sport. Reports that anti-money laundering laws do not apply to racehorse investments emphasize the lack of transparency and potential weaknesses in the regulation of the industry, leaving room for financial fraud and economic impropriety.

There is also a high degree of dependence of the racing industry on government subsidies, which calls into question claims of self-sustainability and return on investment in the form of tourism benefits. These factors point to the need to create effective reforms and regulatory oversight and public scrutiny of the industry to ensure safe and ethical standards in racing and to protect the rights and welfare of the industry's workers.

The racing industry and horse racing are associated with high stakes, excitement and intrigue, but these aspects hide the other side of the coin - the problem of gambling addiction. A particular type of content focused entirely on racing, including countless articles, broadcasts and promotional material, is part of a strategy that seeks to conceal and distract from the true nature of the racing industry's activities. Particular attention has been paid to the problems associated with gambling, particularly its impact on public health.

A study conducted by the Australian Institute of Family Studies in 2017 found that 41% of regular bettors on horse racing had a gambling problem, and around half of the funds generated from gambling on horse racing went to problem gamblers. This marks the racing industry's significant reliance on gambling and its significant contribution to the industry's business model. Therefore, horse racing is not much different from illegal casinos in this regard. Many users start playing at foreign casinos without a license in the hope of getting more lucrative bonuses. For example, users sign up for casinos with Canadian dollars from ratings without realizing the dangers they pose.

It is important to understand that most content covering racing events is generally devoid of depth and substance, serving only to legitimize and glorify a corrupt and gambling-dependent industry. Such content is saturated with gambling, putting viewers at risk of developing gambling addiction. It is therefore important to educate and inform the public about the risks of problem gambling and to ensure that control and regulation in this area is tightened to avoid negative consequences for society.

Boylesports News