If I remember one of Kenchar's old posts about the way he bets he said this sort of thing on a smaller scale is what he bases some of his selections on. One (or more) horses being backed in to inflate the price of another. It's just that these guys did it a bit more seriously. Good on them, any angle as long as it's legal and doesn't involve pulling horses or whatever is fair game. It's what the whole betting game is about.
(Apologies Kenchar if I remember your old post wrong).

KV