Hi Jeff. My explanation was probably not as detailed as it could have been. If I was to lay one horse, the way I study markets, it does not matter if it is part of a two horse field, ten horse field or twenty or more. I treat each race as have only two runners. Assuming a perfect balanced market of 100%, the net effect on the market is the same. Given that for me there are only two problematic outcomes, win or lose, the remaining field is grouped. Within this group, each runner then competes a separate race amongst themselves, very similar to the manner in which the calculations for Forecast and Tricast betting are extrapolated. As for XM, I don't believe it has the effect of allowing a bettor to hide their intent like you suggest. If anything, I think XM has tightenend up the over and under rounds, allowing bets to be filled where otheriwse they might not have. Nice theory though and I do stand corrected.
rg
Pre-race cross matching
The sport of kings.
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