Tuesday, 30 October 2012

Favourites, Mullins and how Anglo can make you money - A recent guide to Irish Grade 1s


BY CONRAD CLANCY

THE Irish National Hunt season “proper” is now underway with the first all age Grade one of the season, the JN Wine Champion Chase now in the offing let us examine what the demographic of the 43 individual horses who were the winner of an Irish Grade 1 in the past five seasons.

The place you must nearly always start in a top class race is the favourite. Backing all favourites blind (backing both horses in event of joint favourites) would have left you a healthy profit margin of twenty times your investment for a level stake. This is mildly surprising considering that 17 of the 39 winning favourites went off at odds on and the biggest price of an obliging jolly was 100/30.

Table 1
Field Size
Num. of races
Winning Favourite
Level Stakes +/-
<5
7
4
+0.71
5-7
30
21
+10.70
8+
28
14
+8.59
Double figures
13
8
+9.44







You may say, 'big whoop these small field and often poorly contested races go to the best horse', but read on. Yes price has been a useful indicator of winners generally. Only five winners returned at a double figure price and except for the remarkably generous 14/1 about double Champion Hurdler Hardy Eustace in the four runner Morgiana Hurdle in 2008, all have come at the Punchestown Festival and to narrow it further - three have been in the Guinness Gold Cup (Planet of Sound at 14/1, and Follow The Plan and China Rock both at 20/1).

As mentioned odds on favourites have won 17 races, while there have only been three odds-on losers, two of these came in the Morgiana Hurdle and the other was Kauto Star. An 85 percent strike rate shows that odds on favourites are as formidable as they should be. Backing each and every one would have been a slow but sure way to success.

As is the case with all horse races, previous achievements are a good guideline to a horse’s chance. Of the 65 race winners 48 had already won a Grade One and only four had yet to notch a win at Grade two at least.
The quartet were Synchronised who had won a number of top staying handicaps already. Quel Esprit who won a substandard Irish Hennessy in February 2012, What A Friend, winning the Lexus after a runner up placing to the mighty Denman in the Hennessy Gold Cup and finally Sizing Europe in the 2008 Irish Champion Hurdle when he was very much the up and coming horse after winning the Greatwood Hurdle at Cheltenham in impressive fashion.

Flat form is also a good guide to winners of the leading hurdle contests. There were 20 two mile hurdle races staged in the sample period and 18 winners of those had won a flat race previously. While flat form may be a good guide to the short distance hurdle winners, just a solitary staying chaser (Kempes, Irish Hennessy) had won on the level.

Irish Grade one winners are normally prolific winners. Those who took home the top hurdle races had won an average of seven National Hunt races previously while chase winners have averaged eight previous jumps wins.
Sublimity was the only horse beyond his first season outside of the novice grade to have won less than a handful of previous races, but he had been hampered by injury and not forgetting one of those three victories was the Champion Hurdle.

Statistics show that winning after coming in from the cold is rare, horses in form are very much the ones to be on. Of the 58 winners in the list that had completed the course on their most recent National Hunt run, 28 had won, only six were worse than third last time out. Almost all of those who finished down the field last time out had done so in competitive events at Cheltenham or Aintree.

One name will spring to mind immediately when top flight Irish races are mentioned is Willie Mullins. In the past five seasons the Carlow trainer has had contestants in 46 of the all age Irish Grade one races, saddling 16 winners, a strike rate of more than one in three.
The most interesting thing about Mullins’ record is that after the turn of the year he has a far better win ratio than in the early season. He has sent out 35 representatives in the 22 races in the first half of the season and returned four winners (11.4 percent). Compare this to the second half of the season; here he has sent out 48 runners in 24 races and won half of them (12).

Pointing the way: Willie Mullins was the man to follow and that trend looks likely to continue
photo: rte.ie

The question that is of most importance to punters, is it profitable to back him blind? The answer is no. If you backed each and every runner for €10 you would have a level stakes loss of €308.40. And even second half of season grade one winners would have left you €70 in the red.
However, the fact that he has multiple representatives in a large amount of these races would drain from the profit of the first string. No second string (predicated on longer price in market) Mullins representative has won an all age Irish Grade One in the sample period so if we discount these from consideration the picture changes drastically.

His first strings have a strike rate of almost 35 percent (16 from 46). And if you had made it your new years’ resolution to back all of Willie Mullins’ first string for the last five years you would now have a healthy profit margin.
Their record in the second half of the season is 50 percent and would have given you sizable profit, not bad considering that 10 of the 12 were priced 3/1 or shorter as the tapes went up.

Table 2: Willie Mullins Record


Races Contested
Runners
Winners
~% Strike Rate
+/-
Overall
46
83
16
19
-30.84
Pre Turn of year
22
35
4
11
-23.77
Post Turn of year
24
48
12
25
-7.07
First String (Post turn of year)
46 (24)
[see left]
16 (12)
35 (50)
+6.16 (+28.93)


Paul Nicholls:  Has had 10 winners in Ireland's top races since 2007
(photo: betting.betfair.com)
Raiders from the UK are always given due respect when contesting races here and judging by their record, rightly so. The runners from across the Irish Sea have had at least one runner in 35 Irish Grade Ones in the past five seasons and have taken home the prize on 18 of those occasions.

Backing all UK runners who started as favourite would have left you a healthy profit margin with a dozen of them obliging.
Three mile chases are the most targeted races by UK challengers with them having 60 percent of their runners in them. They have been contestants in 19 races in this category and the prize has gone the Anglo way on 12 of those occasions.

Table 3: UK Runners Record

Events Contested
Number Runners
Wins
~% Strike Rate
Level Stakes +/-
Total
35
76
18
24
-3.29
SP Fav
18
18
12
67
+8.21
Hurdle
9
19
2
11
-11.67
Chase
26
57
16
28
+8.38
3m+ Chase
19
45
12
27
+11.33
<3m Chase
7
12
4
33
-2.95



Next time you are looking at an Irish Grade One contest here is a summary of how to narrow the field:
·         Favourite
·         In Steeplchases -Trained in the UK AND favourite.
·         Won, placed on last completed start.
·         Won at Grade 2 level or better in past.
·         Prolific winners in career so far.
·         Willie Mullins’ first string, especially in the second half of the season.
·         A previous winner on the Flat for two mile Hurdle races.
·         Official Rating 142 or higher



Multi Irish G1 winner, Hurricane Fly. How many will he bag this term?
(
photo: university times)




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