Forgot to mention - it is even better if you look at races with 6 or less runners:

Odds On: 49 selns, 32 wins (65% SR), 5.30 profit (10.8% POT)
2.00-2.90: 79 selns, 31 wins (39% SR), 0.20 loss (0.2% LOT)
3.00+ : 12 Selns, 2 wins, 5.80 Loss (48% LOT)

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"Computers can do that????" - Homer Simpson