Approach
Good topic.
I am reading Ziemba’s Exotic Betting at the Racetrack, just getting started. He points up how many heavy favorites win.
So, in my opinion, there’s usually up to 4 horses in a race with a shot. Those 4 are horses that figure. My reason for going to a longshot is pace… always pace, with the setup for speed or close.
I look to see what the horses did in their pace line race. Then, the speed and class of their recent races. Then, figure how all that fits to the form cycle.