I know it may seem trite but I am trying to assign a rating to form figures. At present I give 10 points for a win, 6 for a second, 4 for a third, 3 for a four, 2 for a five, 1 for a six and zero for the others. I use this as a tie breaker for my ratings which take no account of recent form.

I would appreciate any comments and ideas on such values.

I suggest:

8 points -- 1st
5 points -- 2nd
3 points -- 3rd
2 points -- 4th
any other placing = 1

some time ago I posted a spread sheet on this forum that assessed a horses chances based purely on form factors -- I adopted the above point scale (based on extensive research)

btw -- the point of the spread sheet was to demonstrate how to parse a string in excel

ps -- thanks for your hard work and sharing your findings (mathematical formula) on the relationship between win% and place% -- I also posted a spread sheet on how it might be put to good use

have the best day!

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Another way would be to score based on lengths from winner. If you set a cutoff point of 15 lengths for example then deduct finishing lengths from 15 to get a score with winner scoring 15. For example, a horse 15 lengths from the winner scores 1, a horse 12.5 lengths from winner scores 2.5 and the winner scores 15.

Another variation is to take the second placed horse as the standard for scoring to reward the winners performance. Second horse receives 0 points, each horse behind it receives minus points for lengths from second horse. Winner receives plus points based on lengths won.

For example, winner wins by 5 lengths, third horse 6.5 lengths from winner. Deduct 5 from 6.5 (lengths between first and second) giving -1.5 points for third horse and 5 points for winner.

It may be felt that there is not much between horses that finish say 3 lengths from winner so they could all have the same score with perhaps the next block covering horses 3.1 to 6 lengths.

Points can be adjusted for class of race if considered important.

Just some thoughts

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I agree that if it's feasible, using margin rather than placing will be far more accurate and may actually make the difference between ratings that break even and ratings that beat the crowd.
Some placings are not placings... a 3rd a half length from the winner is obviously not the same as a 3rd 7 lengths away.

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Late replying as I've been away for over month but thanks to ixalt0 for his figures that proportion wise agree with mine which also result from extensive research. I've noticed that they follow a Fibonacci pattern!

I have thought about using lengths but lately I am sold on rank ordering. A 5 length 3rd behind Black Caviar might be a reasonable run.

80% of winners ran within 3.5 lengths of the winner last start.