Making a profit from your handicapping and wagering efforts, in my experience, requires learning how to distinguish between which races are playable and which races should be left to the suckers who repeatedly throw their money away. If you insist on speculating on every race, you are going to come away from the track a loser. You need to focus your attention on those types of races where you excel in handicapping successfully, and then insist upon odds that will allow you to profit from your betting.
Remember, when you bet on horse races, you are not betting against the track, you are wagering against your fellow handicappers, and extracting money from their pockets is what this game is all about. To do that, you must focus on your strengths, and apply them against their weaknesses. So, when it comes to handicapping, what are your strengths? Are there certain types of races you excel at when it comes to picking winners? If you have not been keeping track of your results, as any good business man would do, now would be a good time to start.
Perhaps you could begin by only playing sprint races for cheap claimers with fields of seven or more horses for a week or two, then analyze your results. Keep in mind, these should be imaginary bets. Do not throw your money away while you are still learning. Only when you find a recurring situation where you have made a profit on paper should you begin wagering.
This is a process through which you can develop your ability to spot a good wagering opportunity, and knowing when you have found a favorable betting situation is what will make or break you. Your fellow handicappers do not understand this, and they routinely donate to those who do.