Better yet, tell him you are going to the track and if he likes, you'll place a bet for him.
This is after telling him the odds are expected to be really generous, like 10/1.
That way, if he loses you keep the bet money.
If he wins, you either pay him his winnings, or do what most high schoolers do to nubes, and say you didn't bet it because he was 3/5.
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