Unless you are a truly professional bettor, expecting to win money is a mistake. That does not mean you will not win a big pile of cash the first time you wager on the horses, but the odds of that happening are incredibly slim. If you are betting because you need to raise money fast, you are making a big mistake and would be better off flipping burgers for minimum wage than betting on horses. But if your goal is to have fun, wager reasonable amounts, and get good enough at handicapping to win consistently while enjoying yourself, then you have the right mindset for betting on horse racing without losing your head, your wallet, or your family home. Smart bettors know how much they can afford to wager and which races give them the best chance of putting money in their pockets. But they also know luck can turn against them at any moment, so treating anything beyond what they can comfortably afford to lose as a sure thing is a mistake.