Aside from racehorses at the highest echelon of the sport, most horses don’t repeat a win with consistency so choosing a horse with a recent previous win is statistically likely to result in a loss of the wager gambled. This is similar to how lottery numbers work. It’s not a past result which is likely to provide a future prediction, it’s the identification of a trend which is likely to come to fruition. Favorited horses only win 33% of the time, whether they are favorited because of their daily data or lifetime data. These horses however are almost always likely to “show” which means place in either 1st, 2nd, or 3rd place and occurs 99.8% of the time