Great question. I gave this some thought, as well. My opinion is serious, syndicated type players would be less likely to dive into the p5, despite the lower takeout. Two main reasons for this.
1) .50c minimum wager is the great equalizer and a few favorites in the sequence would destroy the payoffs. Many "smallish" type players can take a bite.
2) The smaller fields in a few races in the sequence almost ensures a "less than four figure score".
If I were looking to invest thousands today, I would definitely focus on the p6....but that is just me.
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