In the horse racing how are the morning odds picked, based on the money earned?

Answer 1

I'm not sure about today's racing, but 40 years ago the track secretary would use a formula on the past performances and it would result in a number, which was the odds for the horse. I think it involved finishing positions, lengths back, class/purse of race in some combination. I actually have a collection of older horse racing books and one does discuss this in a little depth. Unfortunately I have recently moved and those books are still in boxes. I'm pretty sure the track secretary still posts the odds, but unsure if they still use the method of days gone by. I hope this was a little helpful!

Answer 2

Hardly.

A good oddsmaker can glance at past performances and determine on which horses the majority of racing fans will wager the most or least amount of money. Usually, horses with recent high speed indexes and consistent in-the-money finishes will receive much wagering attention. Local horses are usually better supported than horses coming in from other tracks.

People around the track talk about the morning line but few know what it really is. No, it's not another person's opinion as to the winner of a race. Instead, a paid racing official tries to predict how the public will bet a particular race.

Answer 3

Most of the track morning line oddsmakers do a good job, but the Daily Racing Form morning line is notoriously wretched.

For one thing, the odds maker has to "balance" the line and sometimes this doesn't get done. The cumulative total of the fractional chances of horses winning the race, as assigned by the morning line (e.g. 2-1 = 33%) should equal 100% plus the takeout from the win pool (this varies by track).

The other responses are correct, the oddsmaker is not making a prediction of his own about the outcome but about how the "punters" will bet. Not only must he/she account for pace, class and form but other factors like jockey and trainer. The same horse may be 5/2 ML when ridden by Agapito Delgadillo at Golden Gate; 8/5 when ridden by Russell Baze.

Answer 4

Well
I'm using this software for my horse racing bets and Initial indications are very positive: http://www.goobypls.com/r/rd.asp?gid=567

Thursday 21 Aug 14 - all races 5.40pm Killarney to 8.00pm Newton Abbot (15 races in total) - 43.52 points win at Betfair SP, 9.57 points place at Betfair SP.

Friday 22 Aug 14 - all races UK and Ireland (55 races in total) - 24.12 points win at Betfair SP, 16.22 points place at Betfair SP. A further 39 points win and 8.98 points place should be added to this total, if using my preferred methodology for bet selection
Good Bye