Absolutely.. You can't look at this game from an, "I'm going to pick all the winners" situation. You will lose far more often than you win.
You have to come up with a system or method that is accurate in determining the correct chances of each horse, and compare them to the odds being offered.
Also, betting these high profile races is not a good way to make money in this game.
When I was heavy into the game, I would play 3 or 4 races a day at the most.. Sometimes I'd scan an entire past performance book without finding a single opportunity to bet.
The key is discipline.
But after years of losing, and finally some years of winning.. My "Exertion Point" system I've come up with through alot of research (When I was a teenager, I'd spend hours and hours scanning books, and doing backstudies on racing, I was quite a loser eh), has held up pretty well when applied effeciently.
I've pondered starting a business and selling my figures or writing a book.. but it seems like much of a hassle. Maybe if I find some more time on my hand.
Enjoyed your posts very much, but since John Shirreffs is my brother, my moeny is on Giacomo. Go Giacomo, good luck Johnny!