Ocho Hi
If you lay the fav by itself. At $1.50 it will win 60% of the time in which you will lose $30 but it will not win 40% of the time which you will get $60 each time. a clear 33% profit. But $1.50 favs only account for 0.2% of races. Don't run and buy the porcshe.
At $3 where the higher percentage of races are 21.5% in a 50 cent band you will lose $30 29% of the time, but you will gain $15 71% of the time. A clear profit of 22%. However if you have deep pockets to ride out the periods where the fav is having a good spell then it is good.
You add the second and third fav then you can increase your profits. By backing the fav for a small sum then you even the ups and downs for a slightly less profit.
Beton