Not THAT bad .. well maybe ..
I really just did random things. I bet on my dog everytime. Even if he isn't the winner you still profit. Like the person below me said, bet on Ball and Chain.
Just bet on your dog and maybe another one that looks good. Train and buy stuff from the shop after each race or save up. All my stats were almost maxed except attitude.
Really dunno what else. I really didn't get how it worked with the bills, profit and why the dogs pooped before each race. ;P