Originally Posted by Jonr:
Racers are some of the most optimistic people I have met. Everyone goes to the track thinking that tonight is the night that they win. Nobody thinks that they can be hurt at the track. Finally, everyone thinks that they will figure out some magic formula for making money at the track. Sometimes the facts will only confuse them. 
If the track is more weekly / not just a one time deal, the racers would need to be convinced that they won't loose as large amounts of money to keep coming back.