crash

you have been offerred some very good advice which of course you are free to reject. In rejecting this advice consider for a moment that the point of the debate, market efficiency (longshot bias) has long been dealt within the sphere of academia. Some of these academic papers (using sophisticated statistical modelling) include:

Fabricand, "Horse Sense"
Snyder, "Horse Racing: Testing the Efficient Markets Model"
Ali, "Probability Estimates for Racetrack Betting"
Asch, Malkiel, Quandt "Racetrack Betting and Informed Behaviour"

You don't have to read all these papers to realise the market efficiency debate is over.

No one is claiming short priced horses offer profitable value on price alone. But looking for value in longer priced horses is not only futile, it is delusory - the mug punters Saturday afternoon fantasy.