Shaun
I have just finished looking at favorites. comparing their SP to their win ratio at that price. I have only just put a line through $3.50 as the point where the Fav becomes overbet. The higher the favorite's odds the more it is overbet. From $2.50 to $3.50 they are only marginally underbet. Under even odds the unders increase to 20% at $1.30. Surprised me. Beton