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Originally Posted by baconswitchfarm
Long term, it is skill-99% and luck 1%.
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If one is betting single horses to win, and is successful, then luck carries a lower percentage. If one bets multiple horses to win, and is successful, then luck is still lower, regarding all his selections, but regarding "which" of those horses actually wins, luck is probably a higher percentage. Hope that makes sense, upon re-reading it, I'm not so sure.
Basically, luck, in racing can be with you, or against you. I believe it tends to even out over time.
