I cannot see why winning at level stakes is a 'be all and end all' to a winning formula.
For example, suppose we lose the first 8 bets, then the next 8 bets, we will be down $8 + $16 = $24
Now betting at $3 per race, we lose the first 7 giving us a running loss of $24 + $21 = $45.
Race 8 gives us a win 16-1 giving us a profit of $48.
Take away the $45 previous bets and we have a $3 profit.
Betting at level stakes we would still be at a loss.

My aim isn't to play it as a fun bet, but to play it at nearly every meeting in Australia.