Aqu P5 had short fields with a number of very low odds morning lines. There was one race with four betting interests, three with five betting interests and one with six betting interests. The morning line favorites for each race were 4/5, 4/5, 9/5, 3/5, and 3/5. I can see phillywheel’s contention that if all five of those horses won, the P5 could pay very little. As you have it, none of the morning line favorites won and the P5 paid $7,779.50. However, in Race 2, the horse bet down to the favorite won and in Race 3, the second choice by a few thousand dollars on the track won. Here are the details:

Race 1. Favorite was 4/5 on morning line, went off at 1/2. Ran second to $45 horse who was the longest shot on the board.
Race 2. Favorite was 4/5 on morning line, went off at 7/5. A horse at 3/1 was bet down to 1/1 and took the race with the 4/5 morning line favorite second.
Race 3. Had the biggest morning line favorite of the P5 sequence at 9/5. Went off at 2/1 and was the slight favorite over another 2/1 shot who was bet down from 3/1. They completed the exacta with the slightly longer odds horse prevailing.
Race 4. The favorite was an entry at 3/5 on the line, bet down to 1/5 on the track. Managed a third from one of them with the second choice winning at 4/1.
Race 5. Another 3/5 morning line entry where the public was not having any – went off at 1/1. The 7/2 morning line second choice was also bet down to even money, but was a few thousand dollars behind the entry. They all finished out of the exacta in a four betting interest race as the only other horses in the field ran first and second. The third choice at 9/2 won.