Let's say 15% is the take-out ..... The key to winning is to identify races where the bookies / TAB ( as a direct result of the pool) have a few horses shorter than their true chances because of the horses popularity in systems / stables / handicapping / methods / late mail / ratings / whatever ..... It stands to reason that the others are over their true odds / chances of winning and some may be over by 200%+ ..... These are the ones that will give you a consistent long term profit ..... But you need skill to identify them and balls to back 'em.