I’m an idiot on the “wise guy” definition then. I always had it as the horse that’s gonna take way more money than expected because the people with real $$ are gonna bet it down. Like My Boy Jack was the “wise guy horse” in the Derby, or like Shirocco was the “wise guy horse” in the 2005 BC Turf.
It's turned into that by misuse.....sort of like the subversion of the word "value" in racing. A horse doesn't have value just because it's a big price.
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Just more nebulous nonsense from BBB