Greyhound racing is very big in Ireland. The poor man's horse racing. I've only seen it on TV.
I don't bet, ever. Lots of people go to the dogs for a social night out. That I know of, dogs are well catered for at least as long as they are racing. Lots of people spend many many hours exercising themselves and their dogs.
So it seems to be well regulated here. So I'm more for it than against it.