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Four handicappers, 4 different approaches, all with the same conclusion: Rachel Alexandra would win. Out of 17 handicappers who provided selections before the Preakness Stakes, four correctly anticipated the win by Rachel Alexandra. We asked these handicappers to walk us through their selection process. Four themes surfaced from the comments of these handicappers: the importance of early speed, the weight advantage, running style, and speed figures.
Lindley Provides Overview
Parker’s Picks handicapper, John Lindley, who selected Rachel Alexandra to win, provided an overview. "While Rachel's Alexandra's win in the Preakness was by only a length, that length didn't quite tell the story of her domination. Going into the Preakness, she appeared to be a cut above her male counterparts based on consistency, with only Mine That Bird and Big Drama showing recent speed figures that would be competitive with Rachel Alexandra. The only real question was: would Rachel Alexandra be able to repeat her performances on two weeks' rest? Clearly, she did. While again only winning by a length, she first dominated the other horses with early/tactical speed by running some quick early fractions -- it should be noted that the horses who were nearby her early (Big Drama, Friesan Fire, Pioneerof The Nile -- all considered huge threats by most handicappers) may have been done in by Rachel's raw early speed as all four faded to run out of the money. In fact, the horses that finished 2nd (Mine That Bird), 3rd (Musket Man) and 4th (Flying Private) were 13th, 8th and 11th respectively early in the race. So, while not winning by a margin that many may have hoped she would, she did dominate her foes by controlling the race start to finish."
Identifying Key Betting Situations
Frank DiTondo, author of The One Minute Handicapper, and our current guest commentator for Belmont, uses an approach based on identifying “betting situations” (his term for the angles used to identify prospects). According to DiTondo, there were 2 betting situations in favor of Rachel Alexandra. The betting situations were: the jockey switch and the change from a trainer with a lower winning rate to one with a higher rate.
“”The key situation and the deal-maker was Borel’s unprecedented history-making $66,000 decision to go from the Derby winner to Rachel Alexandra.” In addition, DiTondo noted that “[Rachel Alexandra switched] from a 14% winning trainer to Asmussen at 21% and an Eclipse winner.” When looking at trainer statistics, DiTondo’s approach suggests that a switch like this would have a positive association with her performance.
In addition to the betting situations mentioned, DiTondo also mentioned several other important considerations in favor of the filly. According to DiTondo, these included:
1) Rachel Alexandra’s 108 Beyer rating in last race was highest in 2009 of all Preakness contenders.
2) She had a 5 pound weight advantage.
3) Her versatile running style allows her to go wire to wire or stalk the pace.
4) She was the only Preakness runner to win on fast, wet, or synthetic surfaces.
The Pluses and Minuses of Contenders
Handicapper Terry Sarnoskie, of ContendorsWins, relied on a system of pluses and minuses to select Rachel Alexandra. “According to our ratings, the race favored a front-running horse. Rachel Alexandra had our top Pro rating and also our top Power Rating. The biggest early threat to her was Big Drama and Mine That Bird was the obvious best closer.” Sarnoskie explained.
When asked to elaborate on his system, he provided additional details. “Our Quick Start Plus Report (sorted on Power Rating) assigns a ‘+ ‘ to likely front runners and a ‘-‘ to likely closers. If 4 of the top 5 Power-rated horses are ‘+ ‘ horses, then the race favors a ‘-‘ (closer) otherwise the race favors a ‘+ ‘ (front runner). The Preakness only had 3 ‘+ ‘ (front-running) horses in the top 5 Power-rated horses, making it a race favorable to a ‘+ ‘ (front runner). The 2 other factors that uncover the front runners are the Early Speed Rating (which looks at last 10 races) and the Pro Rating (for the last 3 races at or near the lead at all points of call ). With both factors, the higher the better. The Preakness winner's Pro rating was 5 points better than the next best horse, Big Drama, and was the 3rd best early speed by just 2 hundredths of a point to the 2nd best PAPA CLEM. Big Drama had the best Early Speed Rating.”
The Exacta Value Pick
Although Rachel Alexandra was the first choice in our Handicapper Preakness Selections article, it was noted that one of the challenges of the race would be to find value. Handicapper and author, Tim Maas, of Overlay Publications, described his process for selecting Rachel Alexandra and finding a value play. “I indicated Rachel Alexandra as my Preakness choice because she was the entrant that I considered the most likely winner. According to my handicapping model, she had sufficient early speed, and enough distance before reaching the clubhouse turn, to achieve a favorable running position without either getting carried wide and losing ground around the turn, or expending too much energy to be able to last to the wire. Her performance in the Kentucky Oaks spoke for itself as far as her physical condition, and the fifteen days between races was a sufficiently short time for her to have retained her edge. (I was not at all concerned, as some seemed to be, that the interval was not enough of a recovery time for her.) According to the way that I judge speed figures (using a one-to-three race average, based on a combination of recency and running surface), she ranked highest in the field in that regard. And, although I do not include weight carried as one of my rating elements, she was also getting a five-pound weight advantage as a filly (in addition to all the other positive aspects that I've mentioned). Overall, she was easily the top choice. While not a value play as a win bet at her final odds of 9-5 (my line had her at fair odds of 5-2), those fair odds also allowed for calculation of fair exacta payoffs. The combination of Rachel Alexandra with my second-ranking horse (Mine That Bird) had a fair payoff (according to my model) of $38.60. When my top two choices offer value as an exacta combination, that combination becomes a prime play for me. The actual payoff of $39.20 validated that reasoning.”
Indeed, the consensus picks from our survey of handicappers would have also resulted in the same exacta, with Rachel Alexandra in the lead followed by Mine That Bird.
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