What is the ruling on raising a dog outside the house for a hobby, and does "two qirats are deducted from his reward" mean prohibition or detestability?

It is forbidden to own and raise a dog for hobby or amusement, due to the Prophet's (peace be upon him) saying: "Whoever keeps a dog, except a dog for hunting or herding livestock, two Qirats will be deducted from his reward each day." This is also due to the harms and detriments caused by owning one, except for the purpose of hunting or guarding livestock and crops.