Expected value is a term professional gamblers use on a regular basis. To explain what it means in simple terms I’ll use an example. Let’s say me and you decided to have a coin flipping contest. We flip coins and you give me $1 for each outcome of heads; I give you $1 for each outcome of tails. We could flip coins for all eternity and neither of us will ever have an advantage because on average half the time we lose $1 half the time we win $1. While there will be swings back and forth, as long as we flip the coin enough times eventually we’ll both break even. This particular bet has neutral expected value.
At many horse races, there is a gambling station, where gamblers can stake money on a horse. Gambling on horses is prohibited at some tracks; Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank (TD Bank) Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina, is known as one of the tracks where betting is illegal, due to a 1951 law. Where gambling is allowed, most tracks offer parimutuel betting where gamblers' money is pooled and shared proportionally among the winners once a deduction is made from the pool. In some countries, such as the UK, Ireland, and Australia, an alternative and more popular facility is provided by bookmakers who effectively make a market in odds. This allows the gambler to 'lock in' odds on a horse at a particular time (known as 'taking the price' in the UK). Parimutuel gambling on races also provides not only purse money to participants but considerable tax revenue, with over $100 billion wagered annually in 53 countries.
For the most part, avoid teasers, parlays, and future betting. The same goes for betting in running. These markets do not offer much value, unless you use line shopping or other tactics to scout out a good value. Bookies are too smart and will simply chew you up with the juice over time. The juice is simply too high for teasers, parlays, futures, and live betting for the vast majority of bettors.
As regards IT security, it is imperative that adequate measures are taken to encrypt sensitive information to keep the data protected. Some operators encrypt all connections, but often it is just the financial transactions which are protected using secure sockets layered (SSL) protocol. I checked for certification from reputable IT security companies which guaranteed the safety of submitting sensitive personal information.
Horse racing has a long and distinguished history and has been practised in civilisations across the world since ancient times. Archaeological records indicate that horse racing occurred in Ancient Greece, Babylon, Syria, and Egypt. It also plays an important part of myth and legend, such as the contest between the steeds of the god Odin and the giant Hrungnir in Norse mythology.