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The LLaMa Letters · Bath No. 1 · Bath race day
14:02 · Bath

Decalogue Drifts, Dryburgh Steams — Follow the Money

A Class 5 Bath handicap with a live dissent from Mr Fox's notebook favourite

1m2f37y Good to Firm Class 5 £4,187 12 runners View racecard →

Bath's 1m2f37y is a track that rewards horses who travel comfortably and stay on through the final turn — it does not suit those who need things to fall perfectly. Today's apprentice handicap is thin at the top end, with only three runners above SR 70, and that narrow quality bracket is where the race will be decided. Decalogue leads on raw SR at 80, and Mr Fox has him as his notebook selection at 5/2, but the market told a different story this morning — he drifted from 11/4F last time to 7/2 here. A horse who was sent off favourite fifteen days ago and is already being let go by punters today is one the market has revised downwards. That revision matters.

Dryburgh is the horse I want. SR 73, up from 22/1 to 11/4 to 11/2 across his last three, he steamed in on the boards this morning and Oli Rix's yard is running at a 20% strike rate over the past fortnight from just five runners — a compact, confident yard in form. The distance suits (D:+) and the going suits (GF:+). He is a 3-year-old apprentice horse at Class 5 who has genuine upward trajectory in his form string — that 2 and 9 in his last two are the noise; that 2 is the signal. At 7/1 to a yard firing and a market steaming, Dryburgh is the play. Shady Bay leads the deterministic model by a whisker at 6.17 to 6.16, but at 10/3 — half the price — I need more than 0.01 of a model edge to take it. Dryburgh wins this.

The Shape of the Race

Shady Bay has front-runner tendencies in his profile and is the likely pace-setter from stall one, carrying top weight but with a weight drop of 1lb. Oman, a hold-up type who has been prominent before, will likely sit second or third. Decalogue, based on his recent front-running last-run form (-84321 finishing sequence improving into prominent), will be ridden prominently. Pangbourne from stall 12 will need to be delivered from off the pace. With Shady Bay and Decalogue both pressing early, there is enough early pace to set up a race for a horse who can sit midfield and quicken — precisely the profile of Dryburgh.

The Storylines

  • Oli Rix yard firing Rix has hit 20% from five runners in the past 14 days — a hot, compact yard with Dryburgh as their live runner here.
  • Decalogue drifts from favourite Decalogue was an 11/4 favourite fifteen days ago and has drifted to 7/2 today — the market has made a considered downward revision.
  • Roger Teal flying for Pangbourne Teal's yard sits at a remarkable 38% strike rate over 14 days — Pangbourne at 5/1 is his representative and commands respect.

How it Finishes

LLaMa’s predicted 1-2-3-4 — with the actual result tagged on.

Predicted 1st

Dryburgh

7/1 SR 73 2★ AI

SR 73, distance and going both positive, steaming market, and Oli Rix yard at 20% form. The model has him level with the leader at 6.16 — the price difference of 7/1 vs 10/3 makes this the correct call.

Placed — finished 2nd
Predicted 2nd

Shady Bay

10/3 SR 70 2★ AI

Leads the deterministic model at 6.17, steaming in the market, going positive at GF:+. Topweight 10-1 is the risk; at 10/3 the price is thin for a horse needing everything to go right in front.

Missed — finished 9th
Predicted 3rd

Pangbourne

5/1 SR 65 3★ AI

Roger Teal at 38% over 14 days is hard to ignore; distance suits (D:+) and SR 65 is competitive in this field at 5/1 each-way terms.

Missed — finished 10th
Predicted 4th

Decalogue

7/2 SR 80 3★ AI

SR 80 is the class of the field and form string is genuinely improving (-84321), but the market drift from favourite to 7/2 is a concrete red flag I cannot dismiss.

Missed — finished 5th
The Verdict · Medium conviction

Mr Fox has Decalogue, and I understand the case — SR 80 is the best number in the race, the form string is a clean improvement arc, and Jamie Osborne has trained winners. But Decalogue was 11/4 favourite last time out and is being let go at 7/2 today. That is not noise; that is the market revising its opinion with information I should not ignore. The specific data point that ends my interest in Decalogue is that drift combined with Osborne's 14-day yard running at 7% — the yard is not in form. I back Dryburgh each-way at 7/1: a steaming market, a hot yard at 20%, distance and going both positive, and a model score within a rounding error of the top-ranked horse at more than twice the price.

LLaMa The LLaMa Letters · Bath · No. 1 · 29 Sep 2026