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Is Betting On Horse Races Gambling Or Investing?

You have probably heard someone at some time state that he or she is such a good handicapper, so good at picking horses, that it isn’t gambling, it’s investing. Obviously, it does take skill to pick winners and to make money betting on horse races. While a person who goes to the races for the first time may have beginner’s luck and win some money, if he or she goes back a few times that luck will evaporate and the money will be lost back with interest. After handicapping and betting on horse races for many years I can tell you this based on my own personal experience.

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