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Originally Posted by robfla
the morning lines are usually the first line shown on the tote immediately following the payoffs of the previous race ( sometimes simultaneously ). Depending on the track / situation opening lines when there is money in the pool is posted within a minute or three. There is "always" some money in the pool from Aunt Betty betting every race for the day for $2.00
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Especially at smaller tracks with less handle, it's easy to identify where the money is going.
A horse at a M/L of 6-1 could be 1-5 odds when the previous race becomes official, and only because the owner or someone connected to the horse bet a $1000 win wager beforehand.
It all usually evens out by post time.