I once read that an amateur bets a hundred in the hope of winning a thousand, while a professional bets a thousand in the hope of winning a hundred.
I’m no pro, but I used to enjoy going to the track when I was younger. Since I didn’t know much about horses, developed my own system. I would buy a racing form and a local paper and look at who the experts recommended. What I looked for was not necessarily the winner, but a horse that all the experts seemed to think would at least show (3rd place). I would take 50 bucks for 10 races, planning on making a 5 dollar bet on each. I might get back 7-10 dollars on average if they showed. Then I would add half of that to the bet on the next race, and pocket the other half. On a good night I might double or triple my money, on a bad night I might lose half. Most often I would make enough to pay for some food and beer, and it was fun.
Bet a thousand to win a hundred? Must be government employes.