Hi Norie,
I will address this from the dogs angle but then same applies to the horses. Basically, one is trying to guess in an informed manner, which of the dogs stand a chance of winning the race. By analysing their past records, the punter hopes to predict the outcome. If this is consistently achieved enough, it become an opportunity to wager on the races and subsequently make some money. As such virtually all the data available for each dog is needed.
Take this example:
http://www.racingpost.com/greyhounds/card.sd#resultDay=2011-06-16&raceId=1101190
The information at the top identifies the race itself while the following tables provide data for analysis of the past performance of the dogs. Often, the manner of analysis varies for individuals. For example, the comments for each race can be analysed by one individual for determining how an entrant will fair in the grade it is today while another user may totally disregard the comments.
The information available on the main racecard page is rarely enough. So often it is better to replace the tables on the main page with the detailed ones available under each entrants name (you click the name and a pop-up displays their past performances). For example, for the first entrant in the race link above, the details are here:
http://www.racingpost.com/greyhounds/dog_home.sd?dog_id=400683
The advantage of pulling in the more detailed ones include the opportunity to filter off certain grades of races or lines which are irrelevant ; like when the dog was a none runner on the day or was a solo runner.
Once these data are available in excel, different formula can be used to manipulate them. However, the importation is the starting point as it is rather tideous to manualyy copy and paste and then analyse some 40 odd races each day.
If you are interested, I will email you my excel with my formula for you to play with.
On the ascot hat thing, it is just a fad. No bets go on the hats. However, a few ladies and even guys have gone on to be noticed!
Cheers.
Rather than being hard it might be more time consuming and the code would probably not be too stable.
I'd try something myself but nobody seems willing to disclose what kind of data they might want.
Is it a secret?
PS Do they bet on the colour of hats at Ascot?