Your demonstrating [correctly] that the more bets there are the higher the loses ....very 'consistently' !

The confusion punters make is they see the 'odds' they take for a bet as true odds and then jump to seeing them as the same as true chances. Of course they are not the same and the more bets they have the worse the posibbility of profit. Why? Because odds ain't odds.

At best, if there are 10 starters in a race true odds are really 10/1 before they jump. True chances are actually evens [a bet wins or it loses]. I'll take a system with few selections over one with many every time and take my 'chances'.