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I think looking at pars makes sense for races with young and / or lightly raced horses, i.e. 3yos, maiden races, etc. A lot of horses in the field are able to jump up and beat horses that have the "best" figure but one that is below par. Often times races like this are won with a better than par figure.
But for older horses I don't buy it, particularly claimers. The horses are what they are. Maybe a 10k claiming field has all run below par, but the horses don't know it isn't a 5k claimer or 2k claimer. What usually happens in these races is a logical horse wins with a below par figure.
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