yes, i agree the problem is the odds fluctuate, tho with the $26 odds, I doubt being as its a long shot that it's moved much.

Only doing VIC city for now.

It maybe worthwhile to comeup with a system that would select a highly rated horse, maybe proven at the distance its running that is showing odds of $4.xx or $6.xx for a win. Since based on the stats I've provided, those two have come in the most for a win (excluding $2 as its not good value).

It will most likely not be the race favourite tho if its paying $4.xx or $6.xx.

Unfortunately unless someone can provide a link, I can't look up the form of the horses that have won with those odds. It would be good to check their form leading up to that race and what their rating was before the race that they won. To see if there is any common factors that could help in formulating selection criteria for future selections.
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Just taking a quick look at IASBet.com, SEYMOUR Race 2:

1st 4 EL DUCE, paid a fixed price of $4.80

Granted that was a non-city maiden, so I wouldn't have bet on it