g'day Raven.
Your observations are quite correct.
Whether this is the result of crossmatching or just smarter markets I'm not sure.
What I do know, is that the markets have matured and much value has gone from favourites and longshots.
This is the general trend, not taking into account individual mispriced horses of course.
It depends on the pricing of the market, but there is definite value still in certain circumstances at certain prices.
It's just that favourite value has all but disappeared when taking them as a group.

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