How much should I bet?
Good money management in horse racing is more important than in other forms of sports betting. You cannot expect to win as often when you bet on horse races as you would on games involving just two teams. The compensation for this is that horse betting pays much higher odds than most other sports bets. It is not unusual for a good handicapper to win an exotic bet paying 35-1. That sort of payout makes up for alot of losers. In general, more money can be made betting horses than betting sports. You will rarely produce enough wins in sports betting to make it a get rich quick occupation. Trying to make a living at sports betting is a grind. Horse racing, on the other hand, can produce get rich quick results. A single win for the day can have you making big money. But you must be there for that win, even if it comes in the final race.
If you run out of money on the first 8 races, you cannot collect the huge payout in the 9th race that makes your day. Thus, you must manage your bankroll carefully.
Sports bettors often start out betting more than they should on races. My recommendation is that your total investment in a race counting all bets in that race should not be more than you would normally bet on a single game in sports. In other words, the total investment of all bets combined in any race should rarely exceed 2%-5% of your bankroll. You should be able to lose between 20 and 40 races before you win without going bankrupt. A good handicapper will rarely lose 20 races in a row, but you still must be prepared for the possibility. You need to be there when you hit for thousands on the 21st race.