I have seen enough old black and while movies to know that you can bet on the horses. Or if you prefer color, The Sting. I also know enough that it is not likely to be the best investment you can make. In fact, if the movies are true, some guy named Lou is going to show up and make sure you pay in full. So, I would suggest a mutual fund instead; there you will get some guy named Dwight Parker III and he will just buy you lunch, a better choice.

Actually, while not really a good investment, I think it is much less certain that you will meet Lou if you bet on a horse at Keeneland. And there are LOTS of windows to do so, dozens and dozens. Plus they offer helpful tips - a large section on the website describes how to wager, plus lots of information on the actual horses who will race, and it is a parimutuel betting system. What is that you ask? According to people who actually know: “With very limited exceptions, a horseplayer bets against other bettors, whereas a typical casino gambler is betting against the house. I.e., when I win, you’re more likely to have lost and vice versa. This is important because understanding how other people bet can be as much of an edge as understanding how and who to bet.” This removes the odds being set by bookmakers and allows the pool of bettors to determine the odds. A more fair system, according to what I have read, and popularized in the US by Keeneland, which has offered only this type of betting since its beginning in 1936.

I would never bet on anything anytime, but if you choose to do so, this would be a fun way to “invest” in the outcome of a race. Or so I am told. Make sure you take your lucky horseshoe!