Felt hat must be arranged for horse racing (3,4)

I believe the answer is:

the flat

I'm a little stuck... Click here to teach me more about this clue!

'horse racing' is the definition.
'the flat' can be an answer for 'racing' (I've seen this before). I'm not certain of the 'horse' bit.

'felt hat must be arranged' is the wordplay.
'must be arranged' indicates an anagram.
'felt'+'hat'='felthat'
'felthat' anagrammed gives 'THE FLAT'.

'for' acts as a link.

Can you help me to learn more?

(Other definitions for the flat that I've seen before include "racing?" , "races?" , "Perhaps home" .)

I've seen this clue in The Times.

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