Heres a plan that has it`s good moments.

Grab 2 Mules you recon can win
Say one is paying 3.00 the other is paying $7.00 & say your O/L $50
Divide the price of each Mule into the $50
1st horse=$17
2nd horse=$7

Now we reverse the outlay on the 2, this now becomes.
1st horse=$7 if it wins Ret $21
2nd horse=$17 if it wins Ret $119
Total O/L $24

This can work if our 2nd selection has a bit of odds about it.

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Cheers.