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Poseidon offers a little more complexity in terms of city building, but is otherwise the same game with a few different tweaks to the names and variety of things in it. It all depends on the kind of game you want to play. I can't think of any real one strategy, but the one tip I might give is to utilize your space, and don't be afraid to demolish buildings and start afresh.
I've never had a need for the hippodrome, just make a super small one on the edge of town.
The taxes from townhouses you make instead of the area you would have spent on the hippodrome totally make up for the earnings you get from the the hippodrome.
Hippodrome drachmas/month
Highest earning is 500 drachmas/month, 200+ stades long, requires 24 horses and will also make the people unhappy because it's too big and hate the city smelling like horses.
Lowest earning is 10 drachmas/month, 4 stades long, requires 4 horses
1 stade is 9 squares
1 townhouse is 4 squares
1 townhouse houses 60 people
On olympian difficulty with very low tax rate
2*60*0,03*12 months =
43,2 drachmas a year
1 estate houses 20 people
1 estate is 16 quares big (same as infirmary or granary)
On olympian difficulty with very low tax rate
12*20*0,03*12 months = 86,4 drachmas a year
to get 200 stades you have to sacrifice a potential 300 townhouses
that is 1080 drachmas a month.
TL;DR
Hippodromes are ♥♥♥♥.
Townhouses are twice as efficient at earning money and that is not even counting the stables and wheat farms required for the hippodrome.