That of betting everything on horses is not a bad idea, but if it applies to horses it should bet for each sport, fútbol, basketball, baseball, whatever , as long as you bet with great measure , the AI can give us approximations , the Algorithms are not so perfect as to be able to appeal to having them as a whole, they have their flaws and they are looking for a way to improve them to have better results, what happens is that if that magic formula is found it will be total madness, because the people will want to have that AI to win and Platforms will Start to shut down in a measure to Protect Themselves.
We can makenuse of AI in many sport bettings but i don't think they were all best for this, let's look at the horse race bettings which has to be a live sport event on an open field, how can the modification of AI be applicable to in this kind of sport if not on other relevant areas it use can be applicable, also I believe that the use of AI can't be as accurate as expected in winning games but can enhance the user's experience in using them.
The rule that AI can play in sports bets is in clubs analysis and how their previous statistics have been then it will be left to the gambler to make something out of that and make the final decision on the bets this is why it becomes imperative to mentioned the none total reliance on AI to make a game decision but to serve as a basis to supply information to decide on.
While the fame of AI is spreading widely on the internet, we must know that AI is not 100% efficient since it cant make real-time decisions.