Hi mark,
The chasing of Pre-post fav stopping at a winner is the oldest system around & a number of mobs tout it to this day.

The problem arises if one tries to bet those that are under $3.00 using a progression.

The bets go through the roof even betting to a 1000:1 ratio trying to win $1.00

The up side is that sometimes these PP Favs pay $10.00

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Cheers.