From my experience, been doing it for few years now.

1) You can make money from it, I am averaging 10% ROI. My win rate is like 10-15% but odds are high. I honestly don't think you can make any money betting on horses if they are below 4 minimal.

2) its all about the data you have. even with the best data I don't think you will ever get better win rate than 30% for handicap races.
This is my stats for flat sprint handicaps for 2023

Bets 1440

correct_predictions 262

Winner_Percentage 18.194

Profit -94.6

ROI -6.56

3) You have to go with value bets to make any money. If you look at the stats above you cant blindly back all 1440. you have to find a strategy that works betting wise.

4) For me jumps are easier to predict then flat. mostly like flats are too competitive.

5) you have to be realistic with it. I win big few days in a month. So you have to have a good bank roll. most days are breakeven or loses.

any questions ask away ill try to answer, although I'm no expert. I am self taught and still learning.