> many people would have been millionaires from horse betting already
It's called capitalism! Use your capital wisely, once you are up, it's hard to fall. Look at this recession(?) millionaires doing just fine. I won't argue on weather it's betting or investing. It seems hard now because investors put put seat belt on.
> People act like raising money is easy. It's not.
I see the startup being viewed as an active while in the market money try hard to park itself somewhere. It's always money that being actively finding a place to go. It's in investors' hands so it's in investors' mood / vision / dream / hype / media they consume / trend blah blah. Your startups being good is less than half of story.
If you put millions in one horse, and there are thousands or millions of horses to choose from, I suppose you can say it is the same.
Making money consistently from horse betting is also really really hard. If not, many people would have been millionaires from horse betting already.