I know a guy that for a good part of his life was a professional horse player. He filed his tax return noting that his occupation was "Gambler". Horse betting is very much about stats. You have all of the horse's times, the condition of the track, length of the race, class of the competition etc. It is all there to be boiled down distilled and number crunched. This guy went to the track all the time, because you learned things at the track that you couldn't possibly know from the racing form stats. He got to know the trainers. Sometimes a horse ran a race just for a workout. The jockey was told not to ride him too hard. Sometimes the trainer had another horse in the race and the trainer decided which horse would go for the win. Stats are great, but stats with observation is better.