It was the second race number five Delaware Park. He just stopped riding 10 feet before the wire standing up and not going to work on the horse anymore. Watch Replay
No standing up.
2 sec before the wire he stopped riding.
Did he peek out?
If he rode him to the wire I do think he would of won, horse was at his limit but another 2 pushes should of got him home in front.
Did he underestimate or cheat?
I don't think the judges would get him for cheating, however definitely a slap for misjudging the wire and his competition and letting up did cost him and his backers.
If he did peek out, then he might of cheated because he would of saw and still didn't urge.
He'll claim overconfident either way that he was going to win it and an oops.