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Fascinating article, thanks. When I discuss CAWs at the track with friends, I find most people are unaware of them. What I had always assumed is that every horse in a race is bet to some extent by the CAW's, because, at tracks like Saratoga, the odds seem to be compressed, that is, even a no-hoper is rarely more than 30-1, when it should be 90-1.
Met David Bernsen years ago, early 2000's when he ran a forum called Let It Ride. I posted that we were planning a trip to Del Mar, he gave me passes for his box, and showed up when Kona Gold won the Bing Crosby. A cordial, but business-like, no-nonsense kind of guy. Nice of him to maintain that forum.
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