Is zakat obligatory on camels prepared for racing, knowing that they are fed and not free-grazing, but they are expensive?

Zakat is obligatory on livestock under two conditions: that they are 'sā’imah' (grazing on their own for most of the year), and that their purpose is for milk production and breeding. There is no zakat on livestock used for work, such as plowing, irrigation, or riding. These are called 'awāmil' (working animals), as they are not kept for growth (nammā'), but for use, like clothes and furniture. Camels kept for racing are considered 'awāmil,' so there is no zakat on them because they are for use and riding, not for growth. Whatever prize money the owner earns from racing, zakat becomes obligatory on it if it reaches the nisab and a full year has passed. However, if the intention behind owning racing camels is for trade, then they are subject to zakat as trade goods, by evaluating their value and paying 2.5% of their value.