I am having a hard time with the thought that the only take away from a race chart would be who won and who lost. This seems to be throwing away 99% of the useful information in the chart.
I have always thought that a computer handicapping scheme needs to use every scrap of information available to its human competition and to do it in greater detail and depth than a human would be capable of doing in a reasonable time. So for me a continuous measurement of each horse's performance makes sense.
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