My betting policy was as scientific as the format allowed, and was based on amusing names of horses ("Rehabs for Quitters"; Builders "Crack") or on liking the horses' "owners" (people had been asked to sponsor races and to buy and name a horse for the evening). This was pretty effective, as I picked winners in four of the eight races, and I was the winning owner in the second race. (The only trouble was that I had also bet on lots of others that didn't win).
The evening had an added piquancy as there was a quiz handed out in the second part of the evening. A bit Blue-Peter like, I had invited my regular quiz team along (without realising they'd be needed) so we swung into action. But failed to win by two points - I'm sure we'll have a post mortem later.
So overall, success and failure for all the attendees: but an evening everyone enjoyed.
The real winner of course was racing itself.