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What is the main objective of betting on horse races?

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Every thing follows specific objectives, I would like to know, what is the main objective behind betting on horse races. What principals are followed in horse race betting, please specify.

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  1. The main object of betting on horses is to beat the 'Oddsmakers' or the 'Odds Compilers' and win some money. Additionally, placing a bet on your favorite event makes the race exciting and more enjoyable.

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