You are both right, the way i see it they are both equal in prize money compared to costs.
When you look at it a horse is going to cost you 10 times more to buy, look after and train although the prize money on offer is 10 times that of a greyhound race.
So when you look at the figures they are almost equal in profit margin per race less expenses although there is more opportunity to win more with horse racing although its more likely you will lose more as well.
In perspective if your at the casino making $1000 bets you are more likely to win more than someone placing $100 bets although the chance of losing more is also higher.
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