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Right: Top US eventer Holly Payne Caravella prefers American Thoroughbreds, most of whom are acquired from the racetrack and retrained.

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Arguments against banning horse racing

1. Racing is regulated to reduce the risk of harm to horses
Supporters of horse racing in Australia  stress that the sport is a highly regulated one with rules specifically designed to reduce the likelihood of injury to riders or horses.
Former Racing Australia chief executive officer, Peter McGauran, has stated, 'The claim that racing authorities are inactive on welfare issues is not supported by the facts. We are acutely aware of our responsibilities to meet community animal welfare expectations and purposely enforce the rules of racing to this end. Racing is among the most regulated and accountable industries and sports in the country.' https://www.news.com.au/national/are-opponents-of-melbourne-cup-funhating-whingers-or-worried-animal-activists-with-a-point/news-story/3472d55efbc4f481220a819a5458a9be
The Welfare Guidelines for Australian Thoroughbred Horse Racing include the following provisions.
The housing, feeding and training of racehorses should be consistent with good horsemanship and must not compromise their welfare. Any practices whether in stables, training or racing which are inconsistent with contemporary standards of husbandry should not be tolerated. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
Breaking and training methods which unreasonably influence the normal behaviour of racehorses should not be used. Horses should only be given training schedules which are suited to their physical capabilities and level of maturity. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
Racecourses and racing surfaces should be designed and maintained to reduce risk factors which may lead to injuries. Particular attention should be paid to crossings, uneven racing surfaces and extremes of surface quality. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
Excessive, unnecessary or improper use of the whip cannot be condoned, for example, on a beaten horse, a horse unable to respond or a horse clearly winning. Any post-race whip welts clearly indicate injury. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
The incidence of injuries sustained in racing and training should be monitored wherever possible. Track conditions, frequency of racing, age and any other risk factors, should be carefully examined to indicate ways to minimise severe injuries. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
Owners should attempt to ensure that their horses are sympathetically and humanely treated when they leave racing. Racehorses should be permanently identified and registered, so that instances of mistreatment during retirement can be pursued. https://www.racingnsw.com.au/wp-content/uploads/2017/08/Welfare-Guidelines-for-Horse-Racing.pdf
As evidence of the effectiveness of the guidelines governing Australian horseracing, Professor Chris Whitton, from the U-Vet Werribee Equine Centre, has noted that Australia has the lowest injury rate for racehorses in the world. The Professor further stated, 'Racing Victoria are doing a lot; they have one of the biggest research programs into injuries in the world.' https://www.smh.com.au/national/how-is-horse-racing-cruel-20191018-p5325q.html
It has been noted, for example, that Australia's response to Exercise Induced Pulmonary Haemorrhage (EIPH) is among the best in the world. The regulations for bleeders are strictest in Australia, New Zealand and Hong Kong. In Australia and New Zealand, horses reported by officials to have blood in both nostrils (unless in the opinion of the Stewards such bleeding was caused by external trauma) may not be exercised on any racecourse for two months or start in any race for three months, and only then after a satisfactory gallop of at least 1,000m in the presence of a Steward. If the horse bleeds on a second occasion, it is banned for life. https://www.racingvictoria.com.au/the-horse/veterinary-care/~/media/eb7a9d978aee49b08317d1e3fdff300f.ashx
Racing Victoria has highlighted its low horse fatality statistics as evidence of the care it takes of the horses that compete on the track. It states, 'The total number of flat starts in Victorian racing has averaged 42,614 per year since 2005. During that same period, the horse safety record has averaged 99.95 percent with fatal racing accidents occurring in just 0.05percent of starts.' https://www.racingvictoria.com.au/the-horse/equine-welfare/equine-welfare-the-facts
Referring to the measures it has put in place to ensure animal safety, Racing Victoria has noted, 'Investment is being made to provide the safest possible racing environment with more than $25 million invested in plastic running rails and building safer racetracks over the past five years. Tracks are inspected daily by officials to ensure they are safe for racing.
The industry is not resting on its laurels. Racing Victoria is embarking on a $5.25 million research project with the University of Melbourne, the Victorian Government and Racing Australia aimed at the prevention of equine limb injuries. Over the past 20 years, it has also funded countless research projects by the Rural Industries Research and Development Corporation to assist the health and wellbeing of Australia's entire horse population, not just thoroughbred racehorses.' https://www.racingvictoria.com.au/the-horse/equine-welfare/equine-welfare-the-facts

2. Most trainers and owners care for their horses well
Supporters of horse racing stress the care that trainers and owners give their horses. It is argued that owners and trainers generally have a strong commitment to horseracing and to the horses with which they deal and that they act responsibly to provide the best care possible for the animals involved.
Jamie Stier, Racing Victoria's executive general manager of Integrity Services, has stated, 'I think, without doubt, the racehorses are generally considered to receive the highest standard of care... Any evidence or indication of inappropriate behaviour is addressed swiftly and firmly.' https://www.smh.com.au/national/how-is-horse-racing-cruel-20191018-p5325q.html
Owners generally must make a large financial commitment to each of the horses they own. They spend an average of $35,000 annually on training alone for a racehorse. In addition to this there is stabling and other care fees. https://www.news.com.au/national/are-opponents-of-melbourne-cup-funhating-whingers-or-worried-animal-activists-with-a-point/news-story/3472d55efbc4f481220a819a5458a9be
Anyone wishing to train thoroughbreds needs both formal training and generally years of experience through which they develop an understanding of horses. Thoroughbred trainers have first to acquire a Certificate IV in Racing (Racehorse Trainer). The training is designed to allow 'the trainee to learn how to be responsible for the care, maintenance and racing performance of the animals. The trainee also acquires the skills required to solve unpredictable problems by the analysis and evaluation of available information and demonstrate broad knowledge in a variety of contexts including industry rules and legal procedures.' https://www.tafensw.edu.au/course/-/c/c/RGR40118-02/Certificate-IV-in-Racing-Racehorse-Trainer
Almost all occupations in racing require relevant industry licences, which are coordinated through the industry's peak bodies. Occupations which have licensing requirements include:
trainers, jockeys, stable hands, float drivers, farriers, syndicate promoters and rider agents. Potential applicants for any of these training programs are advised that the top priority industry and occupational skills required are concern for animal welfare and integrity and ethical conduct. https://nationalindustryinsights.aisc.net.au/industries/racing
It has further been claimed that to train and ride an effective racehorse requires significant sensitivity to the unique requirements of the particular animal and that strong bonds are usually formed between jockeys and trainers and the horses they race.
On May 5, 2018, The Conversation published an article by Keri Brandt Off, Professor of Sociology and Gender and Sexuality Studies, Fort Lewis College, Colorado, in the United States, in which she attempts to explain the bond which forms between human beings and horses. The professor states, 'Synchronicity between humans and horses doesn't come easy. It can take years to achieve. Starting at the most rudimentary level of communication - through a system of applying pressure to parts of the horse's body - it builds slowly. Only after countless hours of working together do humans and horses attune their bodies to each other.' https://theconversation.com/touch-forms-the-foundation-of-the-powerful-human-horse-relationship-95284 The closeness which underpins a successful relationship between horse and human being is said to be seen in the relationships between jockeys and trainers and the horses with which they work.
Many successful trainers have been noted for the closeness of the connection between them and the horses they train. In an obituary written by Wayne Peake for champion Australian racehorse trainer Bart Cummings, published in The Conversation on September 1, 2015, it was noted of Cummings, '[His] interest in racehorses extended to their psychologies. He was convinced that they understand love and affection shown them by humans and, what is more, that they respond to it with improved performances on the racecourse.' https://theconversation.com/horse-trainer-bart-cummings-reaches-the-finishing-post-for-the-last-time-46868
It has further been claimed that the racing industry provides horses with a better life than they would have in the wild.
Professor Phil McManus, a Professor of Urban and Environmental Geography at the University of Sydney, specialising in human-animal relations, has stated, 'Compared to life in the wild, some of the horses and particularly the best racehorses do have a longer life, and the reason being, in the wild they don't get medical care, they possibly could be attacked by another animal, they can fight amongst each other.'
Professor McManus further noted, 'It's tough, say in the Snowy Mountains, and it's not as comfortable as a clean stable with fresh hay. Successful horses in terms of a racing career or potential breeding are very well looked after and it's in an owner and trainer's interests to do that, generally.' https://www.smh.com.au/national/how-is-horse-racing-cruel-20191018-p5325q.html

3. Horse racing contributes significantly to the Australian economy
Supports of horse racing stress the major contribution the industry makes to the Australian economy.
There are 371 race clubs in Australia, which is more than any other country in the world. On a per capita, basis Australia has arguably the strongest racing industry in the world. Even in aggregate terms the Thoroughbred Racing Industry in Australia ranks in the top three racing industries in the world on all industry indicators notwithstanding its much smaller population and economy in comparison to competitors such as the United States, Japan, Great Britain and France. https://tinyurl.com/rwrghnw
In 2017-18, horse and greyhound racing contributed approximately $1.4 billion to the Australian Gross Domestic Product. Further value-added income for the economy is generated by breeding, horse sales, prize money and wagering. https://nationalindustryinsights.aisc.net.au/industries/racing
Figures from Racing Australia suggest there are approximately 159,000 individuals involved in thoroughbred racing nationally, including over 82,600 racehorse owners, as well as various other participants, volunteers and employees. https://nationalindustryinsights.aisc.net.au/industries/racing
An economic impact study of the nation's thoroughbred racing industry commissioned by Racing Australia and released in November 2018, revealed it is worth $9 billion and provides more than 70,000 full-time jobs. Racing Australia chair Ms Frances Nelson QC stated with regard to the study's report, 'Thoroughbred racing is one of Australia's oldest sports but, as this report makes clear, it is also a major economic activity contributing to national economic growth, jobs and government revenues.' https://www.theaustralian.com.au/sport/horse-racing/nine-billion-reasons-why-racing-matters/news-story/16d381f391e1f02092c48510b8ce89f6
Almost 80,000 full-time equivalent jobs were either directly related or created within industries that support racing. There were almost 160,000 participants, including breeders, owners, trainers, jockeys and volunteers. More than half of the direct spending generated was in regional Australia. https://www.theaustralian.com.au/sport/horse-racing/nine-billion-reasons-why-racing-matters/news-story/16d381f391e1f02092c48510b8ce89f6
An Institute for Employment Research study has found that racing and breeding also help to sustain employment in other areas of the economy, such as feed merchants, veterinarians, farriers, transport companies, caterers, hoteliers, and the fashion industry. https://tinyurl.com/rwrghnw
Almost $6.3bn of direct spending was generated in the 2016-17 season, relating to the breeding of foals, the preparation of horses for racing, net wagering revenues and product fees and other race day revenues. The thoroughbred racing industry was responsible for more than $9.15bn in value-added contribution to the economy. This was driven by wagering revenues (for the racing industry, wagering and governments) as well as the breeders and trainers. https://www.theaustralian.com.au/sport/horse-racing/nine-billion-reasons-why-racing-matters/news-story/16d381f391e1f02092c48510b8ce89f6
The industry also generated upward of $800m in taxes - more than $530m to state governments by way of stamp duty, gaming, wagering employee and land taxes. The federal government received almost $20m through income tax and the GST. https://www.theaustralian.com.au/sport/horse-racing/nine-billion-reasons-why-racing-matters/news-story/16d381f391e1f02092c48510b8ce89f6
It has also been noted the thoroughbred racing extends Australia's international economic reach. Each year there is an audience of more than 700 million worldwide for the Melbourne Cup. This has major implications for the Australian tourist industry. 22 countries import Australian racehorses. More than 20 northern hemisphere international horses compete in the Melbourne Spring and Sydney Autumn Carnivals combined contributing significantly to the Australian economy. Thoroughbred racing is responsible for more than $750 million of international exports. https://tinyurl.com/rwrghnw
Focusing only on the Melbourne Cup, the four days of the Victoria Racing Club's (VRC) 2018 Melbourne Cup Carnival delivered a record economic contribution to Victoria of $447.6 million in gross economic benefit, a boost of almost 20 percent since 2014, which the VRC claimed highlights the significance of the event to all Australians. https://www.flemington.com.au/news/2019-04-18/2018-melbourne-cup-carnival-delivers-record-economic-benefit
VRC Chairman, Amanda Elliott, stated, 'The Melbourne Cup Carnival is a resounding success story. The four days of Cup Week are the four most attended race days in Australia, as well as being a major draw card for interstate and international visitors. The business of Cup Week sees a sizable dollar amount filter right through the economy to sectors such as tourism, retail and fashion, hospitality and accommodation, with many jobs created and supported state-wide.' https://www.flemington.com.au/news/2019-04-18/2018-melbourne-cup-carnival-delivers-record-economic-benefit

4. Horse racing remains a very popular and culturally significant sport
Supporters of the continuation of horseracing in Australia argue that it is one of the country's most popular sports and is deeply entrenched in Australian history and culture.
Thoroughbred horseracing is the third most patronised sport in Australia after AFL and rugby league. https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252
University of Sydney history Professor Emeritus Richard Waterhouse has noted how deeply entrenched the sport is in Australia's colonial history. The professor has stated, 'It was part of the cultural baggage which was brought over from England. The first horse races conducted in Australia took place in Sydney in the 1790s, not long after the colony was settled.
Initially there were no thoroughbreds in Australia, they just used work horses for racing, but by about 1800 there were sufficiently wealthy colonists that they began to import thoroughbreds.' https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252
Professor Waterhouse has noted that the first official race meeting was held at Hyde Park in Sydney in 1810. The professor observed, 'It was sanctioned by Governor Lachlan Macquarie on the condition that there was no gaming, drunkenness, quarrelling, fighting or boxing... Of course, it turned out that many of the convicts couldn't go back to work the following day as they were hungover.' https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252
From that point, race meetings became a regular feature of public entertainment in the colony and soon spread to other colonies before becoming a tradition in the young country after Federation in 1901.
The attraction of betting is one of the pillars of horse racing. In the early days of racing, the thrill of putting a bet on a race is what drove the popularity of the sport. The continuation of bookmakers - more commonly known as 'bookies' - at the racetrack, offers a taste of what it was like to bet in the past. https://hatch.macleay.net/horse-racing-and-millennials-social-frenzy-vs-sporting-tradition/
Horseracing saw a dramatic decline in popularity after World War II. Professor Waterhouse has suggested, 'After the war, all other kinds of other entertainment and gambling became available, such as poker machines and greyhound racing. The crowds went into a very long-term decline.
The introduction of the TAB (the Totalisator Agency Board which allowed legal off-course betting) and television coverage of races has led to a renewal in popularity.' https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252
The Melbourne Cup stands out as an embodiment of horse racing's popularity and place in the national culture. Professor Waterhouse has stated, 'In terms of prize money, the Melbourne Cup is worth more than the Grand National or any race in America, and it is far more popular in terms of national identity.' https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252
Melbourne Cup sweeps are a well-established tradition in Australian workplaces and prominent public figures have demonstrated their enthusiasm for the Cup. Former prime minister Bob Hawke interrupted a press conference, wheeling a television onto the stage with him to watch the race before returning to the briefing. https://www.abc.net.au/news/2015-11-03/melbourne-cup-history-of-australian-horseracing/6908252

5. The number of horses sent to abattoirs is exaggerated
Supporters of the continuance of horse racing argue that claims regarding the number of former racehorses that end their lives at abattoirs has been exaggerated and that the racing industry has taken active steps to ensure that this is not the fate of most racehorses.
After the ABC 7.30 expose revealing the slaughter at abattoirs of retired racehorses, Racing Australia issued a statement which said," The provision of appropriate care and attention of Thoroughbred horses is a critical priority in the administration of racing across Australia and for the people involved in the sport.
Each year State and Territory racing authorities invest tens of millions of dollars in integrity, veterinary services and equine welfare programs to try and achieve the best possible outcomes for horses. Since 2014, the sport's national body, Racing Australia, has introduced reforms to the Australian Rules of Racing (ARR) to strengthen integrity and equine welfare goals by ensuring authorities have access to the ownership and location details of horses, from birth until their retirement from racing.
Under the ARR, when a Thoroughbred retires from racing, its owners have an obligation to provide Racing Australia with the reasons for the horse's retirement, the name of the new owner and the proposed new location of the horse.
Each year Racing Australia's annual report provides information on the retirement of racehorses which, for the past three years, reveals almost 90 percent of Thoroughbreds enter the equestrian, pleasure or breeding sectors. One per cent were listed as being sent to abattoirs.' https://www.theland.com.au/story/6445366/racing-industry-responds-to-abc-thoroughbred-slaughter-expose/
In 2017, Racing NSW brought in a rule that no ex-racehorses were to be sent to slaughter. Racing Australia contends that less than 1 per cent of racehorses in Australia end up at an abattoir after retirement from racing. https://www.theland.com.au/story/6445366/racing-industry-responds-to-abc-thoroughbred-slaughter-expose/
Racing NSW has claimed that it has rehomed almost every one of 10,000 ex-racehorses and that it is operating a rehoming facility near Lithgow, at Capertee, managed by an ex-trainer, as part of its rehoming commitment. Racing NSW has over 300 ex-racehorses in its own care. It has several programs including taking veterans through Kosciuszko National Park on a trek with retired racehorses. https://www.theland.com.au/story/6445366/racing-industry-responds-to-abc-thoroughbred-slaughter-expose/
Racing NSW has a specific equine welfare fund which requires 1percent of all prizemoney to be assigned to horse welfare, which was over $2.5 million last year. Racing NSW was the first jurisdiction in Australia to introduce this initiative, doing so in 2016. https://www.theland.com.au/story/6445366/racing-industry-responds-to-abc-thoroughbred-slaughter-expose/
Racing Victoria has similarly claimed that most horses born as a result of breeding programs are used in a responsible way throughout their association with the racing industry and beyond. It  claims a recent study of foals born in Victoria in 2005 by Dr Meredith Flash found that 74 percent of them entered training. Of these, 93 percent progressed to racing or an official trial. Of those that did not make it to racing some were retained in breeding, some died by natural causes or accident and others were rehomed directly to pleasure and equestrian pursuits. Identical research projects have been commissioned for the 2010 and 2015 foal crops. Preliminary results from 2010 born foals are consistent with the 2005 born foals. https://www.racingvictoria.com.au/the-horse/equine-welfare/equine-welfare-the-facts