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Some people find the morning line a helpful guide as to whether a race is playable. That is why it's still around. That and tradition. If racetracks thought dropping the morning line would raise handle they'd have done so 50 years ago.
However, for all the people saying it's inaccurate and meaningless---if your gambling competition is using something inaccurate and meaningless to influence their wagers, why in the world would you want to get rid of it? I've yet to see a logical counterargument to that, in this thread or anywhere else.
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