Most people, over the long haul, have no chance to win. It is not a question of intelligence, education level or "inside information", but rather the ability to gather data, analyze such and make sound judgements regarding which pool to jump into and how deep to dive.

Handicapping is not a glamorous endeavor; it requires a remarkable amount of study and dedication, often without reward. By asking the profitability question you indicate, you are going thru a period of frustration with your selections and subsequently challenge anyone else's ability.

Even if you have read epics such as "Picking Winners", "Ainslies Guide..." anything by Quirin, or several dozen other great books, you are still at the mercy of understanding the past performances. Few do, perhaps one out of a thousand.

Concentrate on a specialty, preferably one with a high return. If you are a new to the game; play vertical (trifecta, superfecta etc.) and bet the minimum. Stay focused and ignore "tips" from ANYONE, especially those that offer multiple selections in the same race, without analysis. Analyze all of your plays, both before and after the race. Grow a thick skin. BBB