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Horse racing is the second most popular spectator sport in the UK but it is also a business. Presenter Evan Davis and guests discuss who makes the money: the horse owners, the jockeys, the race courses or the bookmakers?

Guests:

Simon Bazalgette, Chief Executive, The Jockey Club

Rachel Hood, Director, The Horsemen's Group

Ciaran O'Brien, Group Communications Director, William Hill bookmakers

Producer: Julie Ball.