Arabic hadith text
وَحَدَّثَنِي عَنْ مَالِكٍ، عَنْ يَحْيَى بْنِ سَعِيدٍ، أَنَّهُ سَمِعَ سَعِيدَ بْنَ الْمُسَيَّبِ، يَقُولُ لَيْسَ بِرِهَانِ الْخَيْلِ بَأْسٌ إِذَا دَخَلَ فِيهَا مُحَلِّلٌ فَإِنْ سَبَقَ أَخَذَ السَّبَقَ وَإِنْ سُبِقَ لَمْ يَكُنْ عَلَيْهِ شَىْءٌ ‏.‏
Translation

Yahya related to me from Malik that Yahya ibn Said heard Said ibnal-Musayyab say, "There is no harm in placing stakes on horses if athird horse enters it. The winner takes the stake, and there is nofine against the loser."