I think a lot of VALUE in starting odds occurs when an animal has run a few ordinary efforts, but has a lot of ability.
Punters tend to discard an animal before they will forgive it.
Therefore the odds tend to be more than what the animal should be.
When an animal fails at its latest start, if there is any reason at all why it occurred, then rate it as though that run never happened.

When you form a Market, and somehow it don't look right, ADJUST it.
If it don't look right, then it probably ain't.

Meadows Race 6 No 3 OPIE LAD $4 Eachway
Meadows Race 6 No 4 BANDIT'S FLAME $6 Eachway


Meadows Race 8 No 6 Fred Basset

I came up with a 40% chance of winning based on his ability.
With a Box penalty he goes out to 35%.
And for VALUE, $4.10 is the price needed.
I'ld imagine that would be available, so I'll go $12 Eachway on him.