I have previously run a thread on here showing how it did in fact work with the right strike rate.

Actually there were a few:
http://propun.com.au/racing_forums/...1&page=13&pp=10
http://propun.com.au/racing_forums/...ead.php?t=25862
http://propun.com.au/racing_forums/...4&page=17&pp=10

Its doable. It works. It works really well with small banks.

I don't use that method anymore. The amount I would make with it is negligible compared to other methods I use.