Panelli

The horse seems to run best over a mile and a furlong to a mile and two furlongs, the kind of mid-distance trip where it has managed that single win from eight attempts at the distance. More tellingly, whenever Panelli has been stepped up to compete at Class 4 level — where the standard tightens noticeably — it has failed to win in six tries, which suggests the horse has a ceiling when it comes to competing against stronger opposition. That said, the recent form chart shows some consistency: Panelli picked up a second place just a day ago and has placed in races across its last six outings, even if it hasn't crossed the line first.

Billy Loughnane, who has ridden the horse five times, has enjoyed better luck aboard than the record alone might suggest, winning once from those five rides — a 20% win rate that stands well above Panelli's career average. Under Mike Sowersby's training at Little Barugh in North Yorkshire, the horse remains active and competitive enough to keep racing. For a horse of limited ability, there is value in the consistency Panelli displays: it may not win often, but it tends to run in the frame.