Does our model know anything about a horse that the price doesn't?
NoNo. Its own read is worse than the market's.
249 races · market alone scored best · blending our model in made the forecast worse at every weight
We replayed 249 archived races with every price, fair-odds figure and market-movement note stripped out, and asked the model to rate every runner blind. Its blind opinion correlates only 0.62 with the market, so it genuinely has a mind of its own, but that opinion is worse than the price. Mixing even a tenth of it into the market's own probabilities made predictions no better (a shift of +0.0001, with a margin of error of ±0.008); mixing in more made them clearly worse. Normally the model correlates 0.94 with whatever price it's shown. That isn't laziness. It's the model correctly deferring to better information than its own.
Do our picks get better prices than the market settles on?
NoNo better than same-priced runners picked at random.
+0.4% edge over price-matched runners · margin of error −5.2% to +12.1% · beat the closing price on 36% of picks
Beating the closing price is the fastest honest signal that tips have real value, because it strips out which bets happened to win. Compared against runners at the same prices we didn't pick, our edge is +0.4%, which is statistically indistinguishable from zero. An earlier, larger-looking figure turned out to be our own rule about backing horses whose price was already shortening: following the market, not anticipating it. A full pre-registered test on a larger sample is still running.
Does a favourable draw make a horse worth backing?
NoThe bias is real. It is also already in the price.
favourably drawn 12.1% winners vs 8.2% · returns −33.8% vs −37.2% · 1,209 runners each side
Well-drawn horses do win considerably more often, a 48% higher strike rate, which is a big effect. They return almost exactly the same, because draw bias has been in the form guides for decades and the market priced it long before we saw the card. This is the clearest example on the site of a factor being genuinely predictive and completely worthless as a bet.
Do our lowest-confidence picks have any edge?
NoNo. They run 7 points behind the market they were backed at.
MARGINAL −7 points vs market · GOOD +3 points · ~150 picks each
About half our output is MARGINAL, and measured against the prices those picks were actually available at, that tier loses to the market. It is excluded from Top Picks entirely, which is the main reason our published board is often small or empty. We would rather show you nothing than pad the list.
Is there a corner of the market that's softer than the rest?
NoNot once you account for field size.
538 races · no segment soft on both measures · Group and Listed races the tightest, as expected
We measured how much margin bookmakers charge and how far prices move before the off, by course, class and field size. The first version of this found big fields looked soft. Then we realised books take margin per runner, so that was arithmetic, not opportunity. Adjusted for field size, nothing stands out.
When our model is asked the same race twice, does agreeing mean a better pick?
UnresolvedTwo measures disagree. We treat it as unproven.
win rate says yes (52.9% vs 40.2% expected) · closing-price test says no (+3.3%, margin of error −6.1% to +13.1%)
We ask the model each race more than once and only publish a Top Pick when the answers agree. On strike rate that looks strong. On the closing-price test, which is the harder and more honest measure, it's indistinguishable from nothing, and it doesn't survive correction for the number of angles we tested to find it. We still use it, because a stable answer is worth having on its own terms. We don't count it as an edge.