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I would never feel comfortable playing full-time if I was self-sufficient, but to be honest, I don't really have many expenses at this point in my life. . . I would just be playing for my spending money for the school year. .
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Well, the definition of pari-mutual is playing with someone elses' money ...
If you lose all your spending money for school, where does the replacement, if any, come from?
Give yourself an imaginary bankroll. Make the bets, and be religious about counting the ups and downs and documenting everything. Don't be casual. You don't need any real money, to see if you can make a profit. If you can, go for it next year.