Is horseracing betting a legal form of betting?

Question

Horse racing betting is equated with gambling. Sports bettors prefer horse race betting over other sports betting. I would like to know, is horseracing betting a legal form of betting. Please specify.

Answer 1

Horse Racing is an equestrian sport that has been practiced for millennia. It is inextricably associated with gambling. The common sobriquet for Thoroughbred horse racing is The Sport of Kings. Gambling on horse races is an activity that in 2008 generated a world-wide market worth around US$115 billion.[1]

Horse racing is an equestrian sport and major international industry, watched in almost every nation of the world. There are three types: "flat" racing; steeplechasing, i.e. racing over jumps; and harness racing, where horses trot or pace while pulling a driver in a small, light cart known as a sulky.[2] A major part of horse racing's economic importance lies in the gambling associated with it,[3] an activity that in 2008 generated a world-wide market worth around US$115 billion.[1]