BitPlayer:

Your post was quite interesting. I think your father may be on to something. There can be little doubt that horseplayers in specific, and gamblers in general, are often engaging in irrational behavior. This is reflected in the mutual pools when "one theory" handicapping (e.g., the influence of speed figures) produces overbet horses. When a disproportionate amount of the money is flowing in one direction based on one handicapping theory, bettors must, in my opinion, find the weaknesses of that approach and send their money toward the overlays which must, as a matter of simple mathematics, be present.