|Currier & Ives, "A Brush for the Lead", 1866|
All horse racing betting systems are scams in the sense that there is no sure way to pick a winner. If there was a foolproof way to pick winners of horse races, there would be a lot more people rich from gambling. There are just too many factors that can go spectacularly wrong in a race, such as a horse breaking down, a saddle slipping (like what happened to Affirmed) or a sudden thunderstorm, for any tipster or betting system to guarantee winners -- even those that call themselves "The World's Greatest Horse Racing System" or words of that nature.
Can You Learn How to Bet Cheaply?
If you want to learn about how to bet conservatively then check out books about betting harness races, quarter horse races or thoroughbred racing from your local library. They recommend only betting occasionally and as a hobby, not as a career. "Only bet what I can afford to lose" should be your mantra.
If you can earn enough money to cover your bets, then you are doing better than most. However, many people (like myself) just cannot keep to their betting limits, so I cannot bet at all. (Jut one of my many problems.)
Alternatives to Horse Race Betting
If you are worried about how the horses are treated during and after their racing careers and can keep to your betting limits, then try betting on another sport. Some casinos or betting parlors offer horse racing simulation betting games. I played one day on one of these when I lived in England. They were cute, but for me they did not hole the thrill and challenge of picking winners in races consisting of real horses.
There is a popular (and very funny) video game called the Japan World Cup (and it's sequels, Japan World Cup 2 and Japan World Cup 3). I've never played it because I'm not into video games (and can't afford them anyway) but if you want to try your chances at pretend betting, go for it.