I think they are referring to the Betfair fave.

Interestingly, at Ballina race 8 today there were equal Betfair faves (nos. 7 and 10) when the race began, even confirmed on BAT. As the race was one of my Lay The Betfair Fave I was able to lay no.10 at the scheduled start-time at the price of $3.85 as it was the clear fave at that time. If the Staking Plan was automated I would presume it would have bet no.10 which was beaten by the other equal-fave.

But then again, - swings and roundabouts.