Incorrect Mike – there would be FEWER racecourses, owners, trainers and jockeys but that would be no bad thing.
What remained would be a leaner, trimmer sport which would be far superior, more competitive and, generally, better quality.
I very much doubt it!
The first thing that would happen would be all media coverage would end overnight, taking all advertising and sponsorship revenue with it. No racing on telly, no racing in the papers.
With no coverage, nobody would attend any race meetings. Maybe one or two racecourses would use their facilities still for racing but who would pay for all the maintenance, health-and-safety work, security etc? I would guess all racecourses would either sell their land, re-invent themselves as other leisure facilities or just shut down.
As Irish Stamp points out, jumps racing would become point-to-point with owner-funded prize money and races in a field. Within a decade, flat racing would have reverted to the 16th century with match races for private stakes. Wider interest would be non-existent.
Mike