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When a race horse is born it is immediately put into auctions where it is purchased. It then starts training right after. However if the horse isn't purchased it is sent to a slaughterhouse.
Horse racing provides jobs for many people. The owners, trainers, and jockeys of winning horses make a lot of money. People who bid on horses can also make big bucks when they bid on a winning horse. Horse racing accumulates large amounts of money and circulates it throughout the economy.
If the horse does not prove that it will later on win races, it will be sold or sent to a slaughterhouse.
Some racehorses are lucky and are bought or saved by people who won't sell them to be killed. These horses are given a second chance at life and are kept in a loving home and given another job. Sadly, this occurs very rarely.
Horse racing is good for the economy and for people. It's also beneficial to the horses that are sold to good homes that won't kill them. However, for the many horses that are sent to slaughterhouses, racing isn't advantageous.
The horse keeps racing until it is sold to a slaughterhouse or until it is done with it's racing career (retired). Ending a racing career can be because of age, injuries, and much more. Most racehorses are sold to slaughterhouses after their "retirement", even if they are top winners.
The horse is then put into more races, proving if it is a winner, or if it is winning material. Again, if it proves it isn't, it is sent to death.
In every race there is a winner, but does the winner really win in the end?