Pretty close, but doing this for example on all favourites will result in a loss.
Basically the premise is this:
At times you lay A for a place and back it for the win
At times you back A for the place and lay it for the win.
This is the zig zag effect which creates a profit from an otherwise losing game longterm.
You work out which strategy to use based on the profit versus loss risk/reward ratio.
If the downside is worse than the upside, you reverse the strategy and can apply this to numerous horses in the same race.
For example, last night applying this formula to the first four in the market resulted in an $18.90 unit profit flat stakes. (some thirty race in South Africa, UK and USA)
It is the flip flop or zig zag that makes it work.
The other reason this works is because of the extraordinary win strike rate of horses which managed to be in the placings close to the line. So by backing for the win, but laying for the place, we have a free ride on any disappointing horses.
Using the strategy in reverse means that you are avoiding poor value and if the horse wins, your exposure is lessened by the place component. Thereby laying at reduced odds. If they run unplaced you lose nothing.
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