Racehorse TALK

Hi ...thank you for having me ....with over 60 years of being a racing man ....raced one we bred by an accident out of a mare we bought for $200 ....only to see her produce prolific winner Seargeant Sam and later a blacktype winner and placing , plus other wins on 3 main Sydney courses......I got out due to what I felt was owners being cannon fodder for tipping Jockeys and trainers ....
 That said , many a step by step statement as to everyones views on how to make racing pay.
I do well......learnt the tough way .......so if we ask the questions , I'm sure the people on the forum will do their best to provide an opinion [ everyone is entitled to one ]............So I pose the first question ???.
WHY does 95% of punters lose.......and what are you doing about it ? .....if you are one of them .
With todays opportunities by way of Betfair  type exchanges  and some competition to yesteryears Pirates that losing percentage SHOULD NOT BE ...... lets see what we can do about it .