in an earlier post on the ability of the market to "get it right" the majority of the time someone produced statistics which showed that horses over a period of time ran nearly exactly what their tote odds suggested...e.g horses that went out at $4.00 (3/1 or 25% chance) won 25% of the time...if you assume that the "true" odds of a horses chances are what the tote is displaying before the jump, then compare those odds to the bookies you may find value...but you must adjust the tote odds to a market of 100% as the tote "bets" to a market of approx 120%....e.g if a horse is showing $5.00 just before jump then its "true" odds are $5 x 120/100 = $6.00....you then try and find value with the bookies at this price....

cheers,

noel