higher obstacles means using different muscles for jumping them and those muscles may be less developed, means getting tired alot faster than over hurdles, means not the same class. Fences in turn blunt the speed for some horses and thats why chasers going back hurdling are also a different class for when they were chasing. If you over-simply things and say these are the same sports, then you'd assume Thistlecrack would beat these animals by 50+ but no, he's beating them by 1-5 lengths because he's a much better hurdler. Coneygree was a much worse hurdler than he turned out chaser, if he had stayed hurdles he would've been just average, he went fences and he was brilliant. There are few dual-purpose horses. There's no algo discussion going on, I think you're referring to how I'm used to betting. I don't use emotions, I use figures. As for Coneygree, if he turns out he's fine after his injury and wins the Betfair Chase then why won't he be installed as the GC favourite?