Unless you are a truly professional bettor, expecting to win money is a mistake. That doesn’t mean you won’t win a big wad of cash the first time you wager on the horses, but the odds of something like 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 hamburgers for minimum wage than betting on horses. But, if your intent is to have fun, wager reasonable amounts and master the ponies enough to consistently win and have fun doing so, then you have the proper frame of mind for betting on horse racing and not losing your head, your wallet or your family home. Smart bettors know how much they can afford to wager and which races stand a better chance of putting some money in their pockets. But they also know luck can turn against them at any moment, so counting on cashing tickets or betting anything other than what could be lost with no financial discomfort is a mistake for bettors.