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Horse racing is much more than an excuse for gambling. It is a love for the beauty, grace and speed of the horse. It can also be an intellectual battle of examining competing facts and trying to formulate the future from results of the past. In some ways it is an investigation, as performed by an eager detective. And in other ways it can be the thrill of a crossword puzzle, with multiple possible responses, but ultimately only one correct answer. It is a thing of beauty as much as it is a matter of commerce. I have been involved with horse racing in both practical and intellectual ways. From time spent as an apprentice jockey, to later the research of bloodlines in the multimillion dollar world of thoroughbred breeding and sales. And for the past twelve years I have provided speedrating information to the racing industry and public through my company: Speedratings (www.speedratings.com.au).

Timeform and Speedratings

June 9th 2010 08:14
Recently, when writing about Workforce’s record-breaking win in the Epsom Derby, I did state that times don’t lie.

Doubtful Jack - an impressive winner at Flemington
Doubtful Jack - an impressive winner at Flemington




(photos: Neil, Murray) click images for enlargements

Neil Murray Photography

Well - they don’t - but they are a comparative measure and not something to fall victim to in isolation.

A track record is always a valid recommendation. However, it is more so indicative if other records on the program are not broken - or threatened.

I thought that I would have to wait years to see another horse the likes of Zarkava. And the next year along comes Sea The Stars. And this year - to my surprise - from seemingly nowhere comes Workforce to annihilate a Derby field. Timeform have since rated Workforce on 132 - this rating him as superior (at this stage and time) to the Champion Sea The Stars. To follow there would need to be victories in the Eclipse Stakes; Irish Champion Stakes; and the Prix de l’Arc de Triomphe to allow me to consider him on a par with Sea The Stars - let alone superior. Of course Sea The Stars retired as the Number One Racehorse in the World with a Timeform rating of 140. So, Workforce has a good start and Timeform margin over Sea The Stars - but still a long way to go to be measured alongside him at year’s end.



The art of speedfigures is an overlooked form of assessment in Australia. I have seen many people make the mistake of looking at race times in isolation - without comparative par values - and completely misjudging true ability. Beyer speedfigures - and the adaptations and variations - are common in the US, but rarely used in Australia. I adapted the principles created by Beyer for racing in Australia and have been successfully using them for myself and clients since 1998. Last Saturday, for instance, there were 3 winners on the 8 race program that had the best recent speed performance (by my measure) for their races - and were top rated. These winners were Picalero @ $32.70; Doubtful Jack @ $3.50; and Red Buttons @ $5.00. In addition, the feature race - the Provincial Plate - was fought out between the two horses with best speed credentials - with Leica Larrikan winning @ $8.50. More than an opinion - a valid measure as well.

Seeing is believing - but sometimes seeing is misleading. Providing that you are not investing on an opinion there is no problem with having a differing opinion. But once you start risking money on an opinion it is best to be well versed on all possibilities - especially those based on measures and facts.

Speedratings


Leica Larrikan (red) holding out Kallogg at Flemington
Leica Larrikan (red) holding out Kallogg at Flemington



Longshot Picalero successful at Flemington
Longshot Picalero successful at Flemington
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