Who sets the Official Ratings?
The BHA's team of handicappers. Each handicapper covers a sector (e.g. 2yo flat, 3yo flat, older stayers, novice hurdlers, novice chasers, etc.) and reviews every settled run in that sector, adjusting ratings up or down based on the time, beaten distances, and class of the race. Ratings are republished weekly on Tuesdays.
What's a 'well-handicapped' horse?
A horse running off an Official Rating that's significantly below its actual ability. Causes: it's improving faster than the handicapper has reassessed; or it has shown its true ability only once (e.g. an eyecatching run from off the pace in a strong race); or connections have deliberately campaigned it to win a small race. Spotting well-handicapped horses is the classic puzzle that decent punters live and die by.
Why do handicapped horses sometimes carry penalties?
If a horse wins after the handicapper has set weights for the day's race but before reassessment day (the following Tuesday), the BHA imposes a penalty — extra weight to reflect the now-out-of-date OR. Penalties are usually 5lb or 7lb. A horse running with a penalty is a horse the market knows is in form right now.
Does Racing Alpha use Official Ratings?
Yes — OR is one of four ratings on every horse profile (alongside RPR, TS, and our AI score) and is a major input into the AI's selection model. A horse running well below its OR (recent form below its rating) is flagged as worth a closer look; conversely, a horse rated above its recent form is flagged as potentially over-priced.