I have found $3.30 horses usually pay $1.60+ for a place.

I`ve also found they pay OK for the win component.
Horses paying less than the $3.30 have a habit of paying very short divs. & have a habit of falling over.
So that means you would have to get 2 winners in that price rang to every 1 losser just to break even , what`s the point of pursuing poor value & end up with a small loss on top of it, in that price range.

I take your point about the $2.00 for a place, but from what our freind was indicating, his selections tend to be one of the 2 favs. so I feel if that is the case, he wont be placing many bets if he has to wait around for a Mule in his price range ,paying $2.00+ for a place, that`s all

__________________
Cheers.