NEW YORK - The morning line is one of the most familiar components of horse racing, and one of the most widely misunderstood - not just by fans, but also by track operators who are needlessly confusing their patrons.
A morning line - actually a misnomer now that simulcasting has turned them into day-before or even 48-hours-before lines - is one thing and one thing only: an educated guess of how a race will be bet and the price at which each horse will actually go off when betting closes.