This article is related to expected position in running (galloping racing) and once again highlights the overall poor performance of horses which are back markers.
The raw information is from a very good set of Rankings for the top ranked horse in each race. The overall figures are:-
SELECTIONS: 1536, RETURN $1513
So approximately break even or potentially profitable using Best of SP/Top Tote. As an aside an ideal set of selections to run with RewardBet because simply adding in some Random Selections (with your main selection a banker for 1st) will be quite a bit of fun and based on our extensive analysis will be a few percent profitable.
So in this context the leaders are being over bet and the back markers are not being sufficiently penalized. A Loss of 28% POT on what are otherwise, as a group, break even and solid selections is very hard to overcome.
Food for thought when deciding which runners to back with your hard earned money.
A good form guide or looking at historical videos should give you an idea of where your horse will be placed in a race. More professional information or "race maps" can add significantly to your confidence here.