The horse that was impeded was beaten a nose for 2nd. It's not hard to figure out their decision ... two things have to happen, 1.) a foul has to take place 2.) that foul has to cost a horse a chance at a better placing.
Like Rupert said - it's a little like pass interference in football. If the contact is significant - but the ball flies 15 yards over the recievers head and lands way out of bounds - it's no flag.
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