Horse Racing

[rwesty]

Is it possible to make money racing horses? I don't see how the average racehorse owner is making money off of their horses. It seems to me it must mostly be rich businessmen who do this as a hobby and if a horse is successful they are able to recuperate some of their losses. Sure, you can link together businesses and have a horse stable/horse sitting service and things of that nature. But I can't imagine the horse racing business to be that profitable.

Am I wrong? If it is possible to be profitable in a business like this starting from scratch, this is something I would love to do. Can anyone point me to some quality horse racing information or give me some insight into running a horse racing operation?