Horse Racing: Is it a Sport or Gambling? Well, one thing for sure is, that it's a game of entertainment with multiple facets. And gambling is one of the major reason as it brings another dimension to the game with probabilities, money and what not?! To begin this adventure you need to know the form of the horse, if he is being ridden by the usual jockey, or if the distance suits him well? Who is more important: The horse or the jockey? They are both important, and it is generally the chemistry between the both that brings the glory. However, a good horse ridden by a bad jockey can win the race, but it is improbable for even a great jockey to win on a bad horse! How does wagering work in horse riding? In this system, each player wagers his stakes on a horse and bets against other players, not the house. The more the bets on the same horse, the lower is the return of risk as the horse becomes 'favourite'. Betting on the 'favourite' horse to win the race pays of 53% of the time. However, a lot of bettors like to bet on the underdogs because of their attraction toward the rewards.