Unlike casino gambling where you're betting against the house, horse racing is a pari-mutuel venture. You're betting against everybody else who's betting. Satellite Wagering facilities provide global betting facilities for horse races broadcast live around the world.
All the money that everybody wagers goes into a big pot. If you win, you get a piece of that pot.
The Jockey Club simply take a modest cut of the total amount wagered. We have no interest in the outcome of the races. We just want everyone to have a great time