Is there such a thing as "Smart money" in the racing game???????

Something I have noticed, that has been going on for a while now, is that the first horse that gets accepted by the backers has been going very well.

As an example, I put up my lay prices a few turns of the board below what is currently available, and it seems that the first one that gets taken is actually getting up a good percentage of the time.

Today for example, there were 16 markets I worked in, and from that there were 5 winners from the first bet taken and 10 place getters.

The full results at Unitab prices are..

16 bets / 5 winners & 10 place getters.
Win return = 19.40
Place return = 16.20

I have tried backing them on BF for a place, but the markets are too thin to get set for any amount at the right price most of the time.

Just wondering if anyone else has noticed anything similar, as there could be an angle here. IMVHO

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Jose'.