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I don't know if I'd call it a factor, but I do know whenever I spend too much time handicapping a race I get closer to landing on the favorite or co-fav. I spend just 3 or 4 minutes on a race since, as my screen name suggests, I like long shots or longer shots instead of the top 1 or 2 favorites.
Maybe your results will show more winners(low priced horses), but lower ROI when spending 10 minutes vs 3 minutes. sometimes I get lucky and pick a nice 10-1 shot or higher when briefly spending 2 or 3 minutes just looking at a couple of factors.
My friend used to spend 15 to 20 minutes or longer the night before on each race and always landed on the favorites. He always asked me how I picked these longer priced horses and I told him to spend less time handicapping.
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