Though breeding is crucial for success in horse racing, it often isn't enough. Many well bred The All Weather King/ expensive yearlings have failed to win a race. While many fortunes have been made in the breeding shed, they've also often been lost in the sales ring. Horse trading and horse buying has always been considered a risky business.So those students of breeding who follow a horse and wager on it often also handicap the races that the promising youngster is entered into. They know that it's not enough to know the stride length and blood lines of a horse but also to be realistic and look at the competition in today's race.On the other side of the coin are the number crunchers or spot play hunters. They evaluate the runners in a contest based on past performances, track models, and the percentages and strengths of the connections. Some trainers are known for winning with young horses or dominating on the turf. That is taken into account when trying to figure out how each runner will do in a race.The best handicappers use pedigree and handicapping when they evaluate each runner's chances in order to establish a probability. They may lean more heavily on pedigree in the case of maidens or horses changing distance or surface for the first time, or they may really more on current form and racing record in the case of older horses.The ability to decide which of these categories or factors is most important is what separates the pros from those handicappers who are still trying to show a profit from betting on horse races.