It takes time to learn how to wager on horses and win money on a consistent basis. Part of the reason is that people often make the mistake of thinking they need to win big or go home, and in most cases they wind up going home broke instead. Professional gamblers understand they are in it for the long run and are simply trying to cash more tickets than they tear up. Money management is the key to gambling success, and professional bettors know to wager according to the size of their bankroll and to avoid impulsive bets that can cost them some or all of their potential winnings. If they have a chance to hedge a bet and lock in a payout, that is exactly what they will do, so they can keep wagering the next day while also growing their bankroll.