Of course its a mugs game......but great fun if you can keep to my two rules.
I hated racing with a passion till a mate persuaded me to come along. My first bet was $1 and I won $1.20 and was hooked.
Its not the money, that's incidental. Its a good day out even if you spend nothing. Just watch thoroughbred horses for a while and tell me if you have ever seen a more beautiful animal other than the missus.
Two-year-olds are great to watch, they're new and curious, everything is an adventure for them. Juvenile form is often the most reliable, but then you get one that takes off for the outside fence, decides to run the other way or just sits down and refuses to move.
Try watching it on TV for a bit. If you don't like it, okay, but don't knock it without trying, you could be missing great fun.
It is also a dangerous sport. But shortly after his brother died in tragic circumstances, top jockey Damien Oliver not only rode a horse in the Melbourne Cup but won the thing with ease.
As he passed the post he sat up in the saddle, waved his whip in the air and yelled "JASON THIS IS FOR YOU!" Watch a movie called "The Cup" and you might just get hooked.
What Oliver did was really dangerous, and is normally fined. But if the stewards had gone near him that day well, Flemington would have no longer had a grandstand.
Surely a sport that can rouse such naked passion is worth at least a look.
Either way good luck. All you have to lose is the entrance fee, which could be up to $50 for the Cup, but for lesser meetings it is often free. There has to be a raceourse near you because this is Australia. Where I live I can reach seven by driving less than an hour.

If you think it is cruel, yes it can be. But horses love to run or they wouldn't do it.
You may have heard of an NZ mare could Sunline. A day or two before a big race in Sydney, she walked past her greatest rival Shogun Lodge. She tried to take a piece out of him.
At the end of the race Shogun looked as if he was going to pass the great mare but didn't quite make it because he was thinking: "I'm not letting that NZ bitch do that to ME again!.
Racing is not called the Sport of Kings for nothing. It is life, it is theatre and the greatest sport in the world.