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Telephone call about an account - for betting? (6)

Ross

I believe the answer is:

racing

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'betting?' is the definition.
The definition and answer can be both related to competing as well as being present participle verbs.
Perhaps they are linked in a way I don't understand?

'telephone call about an account' is the wordplay.
'telephone call' becomes 'ring' (I've seen this in another clue).
'about' means one lot of letters goes inside another.
'an account' becomes 'ac' (abbreviation for account).
'ring' placed around 'ac' is 'RACING'.

'for' is the link.

Can you help me to learn more?

(Other definitions for racing that I've seen before include "Competing in speed contests" , "The sport of kings" , "going very fast" , "Epsom, Aintree sport" , "operating at great speed" .)

I've seen this clue in The Globe and Mail.
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