The theory is that the best horses are the most exposed and the most reliable, so favourites in top races should hold up better than in the sales-ring scrambles at the bottom. The data, for the races where class is recorded, broadly agrees.
| Class | Races | Win rate | ROI at SP |
|---|---|---|---|
| Class 1 | 629 | 40.9% | +7.5% |
| Class 2 | 561 | 34.6% | +2.9% |
| Class 3 | 794 | 39.9% | +4.7% |
| Class 4 | 2,394 | 41.7% | +0.2% |
| Class 5 | 2,384 | 37.2% | +1.1% |
| Class 6 | 1,408 | 32.1% | -3.9% |
The takeaway is intuitive: trust the form more in better races and less in the bargain basement, where a short price is doing more guessing than the market admits.
If you are going to oppose a favourite anywhere, the low classes are the place to look.
The Overlay is a free, data-driven UK and Irish racing model. It looks for the gap between a horse's true chance and its price, logs every selection before the off, and settles in public, win or lose. It is not a tipster, and it tells you when to sit a race out.
Explore The OverlayRelated reading: Do favourites win in horse racing? · Are second favourites good value? · all studies.
The SP favourite in races carrying a numeric class (1 to 7) from 2010 to June 2026. Class is recorded for a subset of races, so samples are smaller than our full-database studies. Win rate is favourite wins over races; ROI is level-stakes SP return. Historical and for information only.