I have been wondering for some time exactly how the major players construct their initial market.
I know many of the smaller players either copy the big boys when it comes to opening prices and/or the tote with a little percentage difference, but the big boys frame their own markets.

What criteria do they use exactly?
Is it ratings?
Own assessments?

I'd be interested to hear from any ex bookies or pencillers who have knowledge of exactly how it's done.
Do they just pay for ratings and frame a market from there, or do they actually sit down and spend hours on each race working their own ratings etc?

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