There's no reason to bet a race unless you have a perceived edge over your competition. You could, for example, agree with the public that the 2/5 favorite has a 40% chance of winning, but not like the next few choices and prefer a longer shot to second. From your perspective, an exacta with the chalk over your longshot(s) would be a good play. If you don't have any insightful or contrarian opinion in a given race - skip it. Unless you're just playing for action. . .
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