Other sports give away stats for free, but in horse racing you have to pay a lot of money for them. (I refuse to pay for stats. There are some free past performances on the web.) When you get the stats you find that they have a lot of errors. When you ask about the errors, they say "track variance, yeah, that's the ticket, track variance".
Other sports are making money. Horse race tracks are going bankrupt. I have no sympathy for them.