Is it possible to determine the odds based on this information and would it be worthwhile?[/quote]

Great question.
The answer is "YES" and "NO."

Seriously ask the question at tonight's meeting.
It's right on topic with the direction. — Rick Irvin

I’m making the jump to The DeTerminator. Looking forward to learning with you all. I’ve been an HSH user but work kept me from putting the time in. I’m now retired and going to put in the work to learn. — Rick Irvin

Wouldn't that severely limit your past history data to a very small sample size? — Tim Romero

What is an ELO system?? — ponyplayer

I have been working on an ELO based system for horse racing and wondering if anyone has done something similar and what was your experience with the system. I get a decent return but not fully profitable based on betting only one horse per race. What are others seeing? — Tim Romero

Not that many L's since most of the low odds horses qualify as d's and it's a narrow window. So the pool size for L's is low as expected.
But, as you can see, 44% winners with an AI Line of <=1.99.
56% winners with an AI Line of >=2.00, but there's a lot of horses in these pools.

BALO's: AI Assist set to Value Method: 0 and Hit Rate Importance: 100.
The d and/or L horses with NO Rank 1's. Found 5 of these. The d and/or L horses with ONLY one (1) Rank 1. Found 3 of these. None of these 8 horses won. Have seen a few more of these since testing and none of them won. Also, in short 5-6 horse fields, as expected, these d's and L's finish 2nd quite often. — Jim Pommier