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Steamer Of The Day horse racing term for the best or well backed horse of the day. They are not always the favourite but can be and come about for a number of reasons.

Good vibes coming from a trainer or stable that have been known to land a gambles can generate sufficient news stories to convince the punter to latch on. This then creates a flood of money and will reduce the odds as the bookmaker tries to reduce there liabilities.

Why a horse has been made a steamer is not always easy to answer as they may appear heavily backed but are not fancied. This can happen if a punter places an accumulator bet and the first three all win.

The bookmaker will then tries and reduce the price of the last selection by backing the horse on course. Reducing the price in this way can significantly lessen the final payout. Another type of horse that can turn into a steamer is a racecourse whisper that is passed around for a horse that does not have a realistic chance.

This will have an effect of transferring some of the money from a good favourite which then gives the idea that the favourite is not fancied and drifts in the market and thus putting more punters off. The door is then open for the professional punter to step in and back the favourite at a better price than it should have been.