Some of that difference may be due to the Triple Crown winners scaring off horses in the later legs. The Derby also -- who knows how many trainers kept their horse home instead of running against Slew in the 1977 Derby? Trainers probably weren't exactly looking forward to running against Secretariat at Pimlico or Belmont after he demolished the Derby field in record time.
Plus, trainers of today may be more willing to run horses in races where they don't have a chance anyway. Look at some of DWL's Derby entrants over the last couple of years. All the major trainers lately have slung some real bombs at the Derby.
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