ABSTRACT
Introduction This chapter describes an explanatory study of the relationship between the tips of UK racing journalists, and the price movements and profitability of racehorses that they tip. Greater attention is paid to one tipster than the others, Winsome of The Racing Rag, a leading trade paper.1 The idea behind the column is to identify over-lays, that is, horses whose true chance is understated by the bookmakers’ prices – the price is too big. The column recommends an average of between two and three bets on a typical Saturday, sometimes more than one in a race. Winsome has been portrayed in the media as a feature that moves markets.
