Wagering on a horse to lose in California? You bet!

Finally, a horse bet I can win: betting on a horse to lose.

Sound crazier than California? Well, California lawmakers have approved it, and it's now awaiting Gov. Arnold Schwarzenegger's signature. Here's how it would work: You would act as bookmaker, setting odds and accepting bets. If the horse doesn't win, you keep the bettors' money, minus a percentage charged by the state-sponsored venue. And it's all legal!

Finally, a chance to make up for every wager I made on that pedigreed favorite who faded like a lame nag, or that longshot that showed why it was a longshot.

We all know how to bet on losers right? I've been doing it ever since cutting high school in suburban Los Angeles to spend the afternoon at Hollywood Park. Now I'm going to get rich. Heck, I might even accrue enough money to buy my own Thoroughbred.