Badger encircled by horses and dogs (10)

I believe the answer is:

greyhounds

'dogs' is the definition.
(greyhound is a kind of dog)

'badger encircled by horses' is the wordplay.
'badger' becomes 'hound' (I've seen this before).
'encircled by' means one lot of letters goes inside another.
'horses' becomes 'greys' (I've seen this before).
'hound' put inside 'greys' is 'GREYHOUNDS'.

'and' is the link.

(Another definition for greyhounds that I've seen is " Dogs bred for racing".)

I've seen this clue in The Telegraph.

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