Hi Michal,
That's right Michal, one is betting to price which is not accurate if using the TABs system due to fluctuations.

Oddly enough the best price for place betting seems to be around the 1-2 min mark & not at the close as one would suspect , strange when one considers that the market usually settles more in the last 30 secs.

One thing I always do if wanting to know if your trusty steed is value or not..
. Look at your horses live win market price

.Convert the price to fractional odds.

.Divide this fractional win price by 4

.Add +1 to the fractional price answer .

.You now have the Fair Place Price you horse should be before one bets on it .

If the market is paying the same or more than this ,it is considered fair value.

Cheers.

You are right about the liquidity, but if everyone talks about the possibilities of the Betfair place market ,like we are doing now , that can only help encourage more people to bet with it, once they know the advantages & some of the techniques that can be introduced to help squeeze a profit .
Techniques & tricks that cant be used on the TAB system.

What Betfair place market needs is more people to do Place Lay betting to help frame the market & help get it within the 300% market range.

One trick I use is to frame a 305-310% Lay market to show a profit no matter which horse wins.
This can be done on certain races with good liquidity liquidity.

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Cheers.