Lo and behold, that horse - a very long shot - won the race.

 Mitch was most interested to see what the priest did the next race. Sure enough, the priest stepped out onto the track as the horses lined up for the fifth race and placed a blessing on the forehead of one of the horses.

 Mitch made a beeline for the window, and placed a small bet on the horse.

 Again, even though it was another long shot, the horse that the priest blessed won the race!

 Mitch collected his winnings, and anxiously waited to see which horse the priest would bless for the sixth race. The priest showed, blessed a horse, Mitch bet on it, and it won! Mitch was elated!

As the day went on, the priest continued blessing horses and they always came in first.
 Mitch began to pull in some serious money, and by the last race, he knew his wildest dreams were going to come true. He made a quick stop at the ATM, withdrew his savings, and awaited the priest's blessing that would tell him which horse to bet on.

True to his pattern, the priest stepped out onto the track before the last race and blessed the forehead, eyes, ears, and hooves of one of the horses. Mitch bet every cent, and watched the horse come in dead last.
 
Mitch was dumbfounded. He made his way to the track, and when he found the priest, he demanded,

 "What happened, Father?

All day long you blessed horses and they won. 

The last race, you blessed a horse and he lost. Now, thanks to you I've lost all my savings."
 
 The priest nodded wisely and said,

"Ach, my poor son. You know, that's the problem with Protestants!

They can't tell the difference between a simple blessing and the Last Rites."