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Seems to me that it wouldn't matter if you capped betting one minute to post, perception perhaps but you still wouldn't know what the final odds were when you bet, they would just change before the race went off. You would still complain that you didn't get the odds you thought you were getting etc. Maybe would just make you feel better that "probably" someone wasn't cheating but maybe not. That last second betting is still going to throw you off.
People betting the market pay a fortune to be nearer the market so their betting signal gets there faster. it is a never ending battle and not likely the racing people will spend tons of money to fix something that will probably not change things much.
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