Kentucky Derby Day was a great day for horse racing, but likely even better for the computer-assisted wagering syndicates. Race 10, the Churchill Downs Stakes, was won rather handily by the Japan-based horse T O Elvis. He was 30-1 on the morning line, 12-1 shortly before post, and went off at 5-1. In my opinion, only CAW syndicate wagering, where the CAWs are given direct computer access to the wagering pools, could account for such drastic fluctuation of the odds.
To any handicapper/algorithm that was able to identify T O Elvis as the winner, I say well done; good for you. Upon re-examining the racing form, I noticed he had not raced since last December, won his last four races, but appeared to be outclassed, having only won a Grade 3 race. Apparently, someone noticed something I did not.
The real issue, of course, was the drastic drop-off in odds.
I have been a handicapper/bettor for more than 50 years. The playing field for individual bettors, like myself, is no longer level and getting worse every day. I do not blame the CAWs at all; they are simply taking advantage of an opportunity. The real problem is the racetrack operators (primarily Churchill Downs & 1/ST Racing) for permitting CAWs to operate freely. When questioned, these operators whine that CAWs make up between one quarter and one third of their total handle.
They need to consider what would happen if a significant number of individual bettors walked away from horse racing, given the very uneven playing field.
I have decided to abandon horse racing and find another interest/activity. I urge other individual bettors to do the same. If you continue to swim in the mutuel pools with the sharks, you can only lose.
~ Allen Jewell, horseplayer
This story was originally published by Paulick Report on May 8, 2026, where it first appeared in the News section. Add Paulick Report as a Preferred Source by clicking here.
