If you are betting on horse racing, then you have probably been given a tip at some point and it was probably on the favourite.
I've always been fascinated why favourites get so much attention in horse racing. Whenever people are betting or look at some sort of a betting strategy it nearly always takes about the favourite in a horse race.
However, things are not as straightforward as you would expect with a favourite in horse racing.
A normal betting market is distorted by the interest in the favourite and you can get false favourites.
So in this video, I examine what chance a favourite has or winning a race, how you can calculate this and what characteristics produce a true or false favourite.
If you are a Betfair trading, have a careful think about this information. Understanding the way a market is priced and why, will give you a much deeper understanding of the way it trades or may trade.
Betting activity tends to drive the underlying market, so anticipating that betting activity will help you become a better Betfair trader as well!
Enjoy!
00:00 Introduction 00:52 Why does the favourite get the most attention 03:12 What chance does the favourite have of winning the next race? 05:31 Why do favourites only win 1/3rd of the time? 08:25 How do find the best favourites 11:50 Summary
