Horse racing is as close as one can get to finding an equal-opportunity proposition. The first horse to cross under the wire wins, and all horses, whether or not they have a stellar pedigree, eventually have to prove their worth on the racetrack.
So, why do we not hold horse race handicappers to the same standard? Make them prove their worth? There are many handicappers who are paid to make selections as part of their job, but have they proven their worth as handicappers? Or, do we assume because they work for the Daily Racing Form, TVG, HRTV, etc. that somehow makes them credible? Do they make money from their actual wagering endeavors? Based on what I have seen, the results produced by public selectors and selection services are not much better than the results of my Aunt Nola when she bets on horses because she likes the color gray.
Some horse racing selection services, such as The Locksmith Report, opening advertise their negative return on investment. Yet apparently they are still selling their worthless information. What are the people who keep these services in business thinking of when they pay for selections that have no value? Would you buy a car from a dealer if you knew ahead of time you were buying a lemon? When you buy information from a selection service that is precisely what you are doing. I have never seen a service where the top selection for every race of every day produced a profit over the course of a year, and their Best Bets are almost always odds-on favorites that practically jump of the pages of the Racing Form.
So, do yourself a favor the next time you are tempted to pay for selections. Stop! Take the money you would have given Joe Blow Selection Service and place it on a nice 8/1 long shot. Your chances of making money from your long shot wager are just as good, maybe better, as your chances of making money from the selections offered for sale by an individual/group making money off your gullibility, not from wagering on his own selections.