Respected world business and current affairs publication The Economist has published an extensive special report on gambling consisting of several articles. The section includes articles on all aspects of gambling, including some specifically addressing the horse racing industry.
The special section can be found at:
http://www.economist.com/node/16507670
The Economist also opines in a related article that online gambling is going to happen despite any attempts to ban it, so it would be better to legalize it and tax and regulate it appropriately. That related article can be found at:
http://www.economist.com/node/16539402
