Mike367's original question was 'Paper favourite' Not sure if Beton or Speedy's posts addressed that specifically? There's favourites and there's favourites??
Had a look at Sunshine Coast races from yesterday and compared 1.Outright oncourse bookies Open favourite, 2. Final Tote Favourite & 3. Newspaper pre Post favourite.

...........Oncourse Open Fav.....Tote Fav...........Pre Post Fav
1/.................3rd.....................Unpl..... ............Won
2/.................Won...................2nd........ ...........Won
3/.................Unpl...................Unpl...... ............Unpl
4/.................3rd....................3rd....... .............3rd
5/.................Unpl...................Unpl...... ............scr
6/.................N/A....................Won..................2nd
7/.................2nd....................2nd....... ............2nd
8/.................Unpl...................Unpl..................scr
....................57%...................50%..... ............83%