With betfair you can play the horses live, while the action is on, place your bet and be part of great fun that is horse betting.
I've never been to the track myself, the closest I have gotten is placing a bet and watching the race on Television.
I think it's a pretty interesting idea batting on the horse online, all the races forms at your fingertips, ease of placing a bet and the ease of collecting your money, but as with any betting, you may come away empty handed, the thrill of the race should still be there.
Betfair also has bonuses for signing up and winning and also by referring your friends, they also have a number of other opportunities for betting such as sports, poker.
The site is very extensive and is frequently updated with all the latest betting opportunities.
Whenever I decide to have a bet I usually bet small but I really get into it even though I have little on the line and it's always such a thrill when I win. I usually try to follow my brothers lead as he is always winning, he doesn't play much but when he does he wins, trifectas and stuff, that's really exciting.