ok here we go, education process for you.
Lets look at Rocanto's race.
Tempo slow/mid
In running positions I have predicted
2,8,3,6,5,4,1
Rocanto rated $6.50 by me current fixed $12 significant overlay for me, slow pace predicted, sitting most likely behind the leader in either 2 or 8, has a quality jockey to give it every winning hope.
For me the most important factor in determining the outcome of the race is the tempo, now unlike your bias factoring which is pure guess work, I can predict with some certainty (around 65% accuracy) the likely tempo based on the last 10 runs of each runner in the race.
Under what I mentioned above, the 1 Seventh Up is terribly placed to win the race, it may well do so as its the class act of the field but its going to need every single favour going its way & at $4.40 it can go around without mine on it.