G'day k3xsy, welcome to the forum,

Basically, in our racing, favs win approx 30-33% of all races but not necessarily at odds which could return a profit if you backed them all. As you may already know, the TAB or totalisator is the main source of wagering complemented by bookmakers.
As you also probably already know, the big issue over here is the infiltration of Betfair into the Aussie betting choices.
We look forward to sharing ideas and strategies with you.

Cheers.