Brumby - I basically bet on any horses that exceed my value criteria - as I mentioned I don't look at horses under about $8 but if there are 2 horses in the race that qualify I will bet on both of them (eg. if I rate 2 horses both at 10% and one is $12 and the other $13 then I will bet both). As for the argument that there is another horse in the race with a much better chance of winning - SO WHAT? Lets say I have 10 races with a 10% chance in each - on average I will only be on the winner in one of those races - but if it pays $12 then I will have a 20% profit on turnover on average.

Chief - I disagree with the "it must be in your top 3 picks" - how often does a horse not in your top 3 win? Probably quite often. The important thing is are the odds above the price it should be. If a horse is showing $20 but has a 1/15 chance of winning then it is a good bet - it will probably not win but as long as it wins more often than 1 in 20 then in the long run you will be ahead.