Funny you know. In the space of a week there has been been a big interest in horse betting. Maybe because this time of the years many big horse racing events take place around the world and it is in the media's eye right now.
I would say the vast majority of horse racing betting is done for fun and the profit is a bonus if it happens. This is fine, but for the more serious contenders the advice is to do your homework on form etc. After all, it is like any other business really where market research is all important to eliminate losses and increase profits. If you do horse betting then it is well worth the effort if you put the time and effort in.