Smart money would never NEVER place a big bet overnight. I do not want to insult your intelligence here, so I am not giving you the reasons. But the answer is just common sense. This is tote betting, the final div does not depend on when you place the bets; be it at overnight or at the jump time!
The press would not tell you the truth because there is a huge market for the over-night edition newspapers!!
This pre-post betting idea had been existing for hundreds of years at England. Bookies would frame a market and bet on a future event---for instance, betting on the Derby of the coming year. There are also fixed-odds early bird betting ( which is similar to this over-night odds we are discussing here), but usually they bet on very bad percentages and it'd wise to leave the betting till jump time.
Some oversea bookies bet fixed-odds on HK races. The 'firmers' are usually the ones they bet 13-1 while the tote is betting 20-1. Then the radio men would all yell " Look, there are huge money on such and such that comes down from 20-1......". Well, even if the bookies don't bet back the tote; it does not take too much money to bring down a 20-1 shot!!
