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Originally Posted by 1st_Saturday_in_May
From 2000 - 2006, the percentage of Pool 1 horses that actually make the starting gate is 38.5% (62 of a possible 161).
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Keep in mind that the maximum that could reach the starting gate is 14/23, or 61%.
The horses that do not reach the starting gate are either injured or have shown they are not good enough, or, less likely, have failed to earn enough money to get in. These are all factors which can be capped.
Betting a parimutual future is very similar to betting a race. Aside from the time value of money that Sniper mentioned, the only real question is whether you can make use of the available info better than the other bettors. This is the same question you should be asking yourself with every bet.
--Dunbar