Is it possible to Win at Horse Racing?

I often ask myself the question, Is It Possible To Win At Horse Racing? and deep inside I know the answer but will not accept it for some unexplainable reason. The best I think one can do is lose less. After years of trying; systems, formulas, tipping etc...finding winners is still as tough as ever.They say that only between 1% - 2% of punters make any profit. Everything seems to be in the bookies favour and the punter has little chance of staying ahead if even getting ahead. I know there are methods out there to cut loses like; Using a Betting Bank - Only betting a percentage of said bank, between 2% - 5% - only increase your bets when your bank increases, and decrease your bets when bank decreases - cutting out certain types of races - use specialized Form & Ratings - Follow Trainers & Jockeys in form - etc.....Even having all the knowledge doesn't stop a horse falling, getting stuck in the stalls or getting blocked in running or cheating.
The joy of picking a nice price winner gives one a great buzz, but that feeling soon fades as the inevitable losing streak returns. One always remembers fondly the good days and try to block out the bad but to have any success one most keep a log of all bets. Then there is the question, Should I Follow A Professional Punter and sign up to some tipping service? These tipping services always give a list of winners but no list of losers. If these tipsters are making the profit they claim why do they need your money? You can be sure the bookies monitor these tipsters and cut the odds accordingly. Why is it the horses that all the money is for get stuck in stalls or fall it can't be a coincidence? I don't know how much skullduggery goes on in racing bur I'm sure it does as in every form of gambling.
Besides all my negativity, a day at the races is a great day out. The people you meet are great especially at the big meetings. The stories they tell are priceless. As the drink flows I'm sure the stories become more exaggerated but none the less enjoyable. As long as one can be sensible and not go too far down horse raving can be a very enjoyable hobby. Betting on horses as with any other form of gambling can become a crippling addiction so one has to very careful and try and control ones urges and not gamble more than one can afford to lose ( don't know anyone that does that - ha).