A horse has died in a "freak accident" after suffering a broken leg at a rodeo in north-west Victoria. 

Readers are advised this article contains references some might find disturbing.

Loxton mother Leonie Schmidt said she saw the horse fall several times in front of a crowd about 8pm Saturday at the Merbein Rodeo Grounds, near Mildura.

She said it was then taken out of view of the crowd before it was euthanased.

Ms Schmidt said she hid her face in her jumper and sobbed after watching the incident.

"I could see the bone," she said.

"They came in a direct line with us, and that's when I could see that his leg was broken."

The National Rodeo Association and the Merbein Community Rodeo committee will both investigate the incident.

In a separate incident, a second division bull rider was injured during the night and taken to hospital.

'Accidents do happen'

Merbein Community Rodeo president Jeff Muller said he conceded the incident would have been upsetting for spectators.

"I love animals as much as anyone and it's upsetting," he said.

"This doesn't happen very often.

"It's just one of those freak accidents that do happen."

Mr Muller said the incident was the only death of an animal to occur in the event's 17-year history.

RSPCA opposed

A Royal Society for the Prevention of Cruelty to Animals (RSPCA) spokesperson said they were "very sorry" to hear that a horse had to be euthanased during the rodeo. 

"RSPCA Australia is opposed to rodeos and rodeo schools because of the potential for significant injury, suffering or distress to the animals involved," the spokesperson said. 

"The use of painful devices such as flank straps, spurs and electric prods contributes to suffering associated with this sport." 

The horse's death on Saturday,  comes after a bull died after being tranquillised at a rodeo event in Bendigo in March 2019. 

A steer and a horse also died at one of Australia's largest rodeos in Mount Isa in August 2018.

The RSPCA spokesperson said the organisation was also opposed to the use of animals in the form of "sport, entertainment performance, recreation, work, or training associated" where injury was likely to be caused.

RSPCA Victoria has told Agriculture Victoria that it has not yet received any reports about the horse death. 

A Victorian government spokesperson said rodeos were strictly regulated and could only be held with an appropriate licence or permit. 

"In Victoria, rodeo operators must ensure a veterinary practitioner is present at all times during these events," the spokesperson said.