Take in the TAB % 'take' and rounding down and 1 in 3 for 3/1 shots is meaningless to them [TAB].

1/1 chances at 50% win are a loss,loss too without the punter being able to define and recognize the overlays that are really 1/1, 50% chances that are being offered as 2nd. and 3rd. favorites and corresponding prices. That's where the 'public' fall over [money management?]. Not many of them can do that often enough to be profitable. It takes a dash of art/perception of outcome and a lot of practice. Both ingredients are required.