myrkassi:
AFAIK 'straight from the horse's mouth' was an expression used by racing tipsters to imply that the information they were trying to sell came from inside sources - since no-one would know more about the condition and willingness to run of a particular horse than the horse itself! 'Straight from the stable cat' was a similar expression.
The expression could have indeed come from the touts at the tracks, in which case it was probably
less reliable than actually looking in the horse's mouth...