By The Grey program had a good result yesterday in the 8th race at Gulfstream, a $20K optional claiming race at 1 1/16 mi. on the dirt for three-year-olds and up. The first selection was #2 Lord Eddard Stark with a total win probability of 20.05% versus final odds of 5-2. At that price that horse was an underlay according to the ROI analysis. Even though the horse won, taking underlays or negative ROI horses is a losing strategy over time. It’s better then to wait for more favorable odds.
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