Thanks for sharing, BLUE.
When first offering attractive rebates in the 1990's. the race books in Las Vegas and eventually racetracks nationwide, tilted the playing field in favor of the high-volume player at the expense of the little guy in the grandstand and clubhouse.
Hard to turn back now.
The racetracks are now wedded to the syndicate money which, in effect, establishes the market at most major racetracks.
Today, I'm leery of short-priced horses in races involving million-dollar carryover pools.
The syndicates, I believe, have figured out a way to benefit from odds-on favorites losing.
They don't need match betting, they simply drain the pari-mutuel pools.