Can horse racing make money? I will try to buck the trend

I made a tip on a HKG race last week and the horse was not in the top 3. As all of you in SHC know my knowledge of Mandarin is a big fate zero. My copy and paste of my HKG tipster friend shud be authentic as some parts are in Mandarin. Since this is the last day of the HKG season this tip is only for a matter of interest and we will serious R.O.I analysis only for HKG races later in the year. I have had a favourable start with a 1.68 return for my VAL-BETS but the average return is 1.05 to 1.2.

Here is the text from my friend with his R.O.I for his HKG season

Dear friends,
 
This is the last raceday of the season; I would like to thank everyone for their support of sum shui.  Excluding this last raceday, sum shui was given out on 82 Hong Kong racedays.  A 1 point bet on each sum shui will result in a total of 87.25 points, for a return of +7.72%.
 
Sum shui will be back in early September for another season of Hong Kong racing.
 
My sum shui for Wednesday is R6#4 Mr Vigorous ????. In other words he made the equivalent of SG$436.25 from an investment of  SG$410 (not counting the result of today’s races).Please note that his bnets are based on single win bets of HKG$10 and dividends are based on HKG tote. I am tabulating the points based on SG $ equivalent to make it easier to understand. My friend is a pro making a living from investing in horses and he provides one free tip per race day to his mailing list as a means of advertising.
 
Happy Punting,