If you're looking for virtual simulation software for gambling on horses, I would suggest http://www.sim2win.com. If you're looking for virtual simulation software for entertainment purposes - jockeypower.com, developed by Horse Racing Simulation. These are the guys who did the virtual simulations for Good Morning America last year prior to Big Brown's attempt to win the Triple Crown.
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There are many different horse racing software's available, such as AceBots. AceBots offers customers a lot of choice on the way they bet, and is extremely easy to use.The latest software is Bettorbot, which can be used all over the world and focuses on playing automatic bets. Horse racing software is mainly used by the enthusiasts, and can essentially narrow the odds on horse races to increase profitability.