All the confidence in the world won't help your bank balance at the end of the day.

If you back a 10/1 shot and it gets rolled, you stood to GAIN 10 times your money. Odds on gets rolled not only did you risk $10.00 to win $7.00, but unless you're a freak, you have to increase your bets just to break even....or wait 2/3 months for another odds on favourite with the same credentials and class to even break even. And if that gets rolled by a neck - what then?

I agree value is value, but odds on is never value in my book - as NO horse has more than a 50% chance in a race and therefore worth more than even money.