I think you missed the point there, Gabe. He was betting trotters.
In the 3rd leg of a Pick-3, each horse is 8 to 1, or so, on average,
so an 'All' in this case is not necessarily bad. After all, they
just go around two times and one of 'em wins.
But, the third leg of a jai-alai tri (and not a racing
tri, I might add), is a different animal. Here, the immutable
laws of spec-7 scoring and rotation can easily overpower any ratings
edge certain teams may have, making certain outcomes, for all
intents and purposes, 'impossible'.