This is a fantastic topic. The game has changed so much over the years - at least from the perspective of when I was single and considered myself a patient "investor" to becoming a family men, holding down a job and becoming a recreational gambler = a monkey throwing darts trying to beat the game.
I take my daughters (middle school age) to the track a handful of times year and we have a great time. Watch the horses, take in the pageantry and athletes (human and equine), have some treats and take in the entire scene. Canterbury does a fantastic job as they put on a lot of fun events that are great for attendance (20,000 for Corgi's and Cup Cakes - really??)
I teach them about risk, decision matrix's, knowing your strengths and weaknesses, sizing up your competition, deciding if you have an edge and if it's worth the time and effort to attain an edge. Or at least try to talk to them about it.
A lot of teachable moments that only get surface level attention at this time but hopefully will sink in.
Are they willing to put in the effort to win? If they put the same effort into another activity would they be better off (i.e another profession, the stock market or even sports betting)? What edge do they think they have vs betting the top trainers and owners that like to bet and know how their horses are doing and what meds they're on.... or the well-funded computer betters that have last second access to pools and possibly eyes a the track. Then take into consideration the track take, inaccurate information (Gulfstream timing), late odds changes so you never really know your true edge
etc
In other words I think I've scared them off
I still give them a buck or two if their horse wins because it makes it fun. But they still refuse to take even 2:1 odds over the course of the day even if it includes favorites. This is despite the fact that they've picked a 55-1 to win and others I couldn't come up with and I've told them how much they would have won on a $20 win bet
. (I've learned NEVER to talk someone off a horse)
I'm waiting for the day that's coming when they realize they can get 2-1 on all horses that average less than that without the track take. Then they're on their own - LOL
So I say go ahead and do it - you can have a great time and build lasting memories. Just make sure you set the right expectations.
Who knows, they may be the 1- 200, 500, 1,000? that can make a living betting without a trust fund backing them up or perhaps they find a job in the sport and live a great life doing something they love. Or maybe they have a great time and it doesn't cost anymore than a season ticket to the NFL or they even come out ahead like I used to.
As for my daughters, I think they'll always enjoy going to the track and have fond memories but will be smart and just do $2 or $5 bets unless they discover something I don't know.
I now I'll always have great memories
. The lows, the highs, the laughs, the memories
But it won't be due to the betting aspect of the game and the hurdles the recreational bettors face. It'll be because of the memories that we made and there are a LOT of options in that space.
