Celebrities at the 1938 Santa Anita Handicap

The video discusses the presence of Hollywood figures like Virginia Bruce and Bing Crosby in a racing event. It highlights Earl Sandy's role as an ex-jockey and trainer, and the betting dynamics among participants. The video concludes with a focus on America's top thoroughbreds, emphasizing the favorites in the race.

What does the phrase 'everybody is willing to bet that everybody else is wrong' imply about the situation?

What is the relationship between Virginia Bruce and the other characters mentioned?