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A friend of mine specialized in betting favorites. He had a system where he was able to detect true and false favorites.When he was able to detect a true favorite with an edge he used that with the exacta. He is the only guy I ever came across who made money dealing with favorites.
Simulcasting makes things tough to play favorites. This week I bet a 2-1 as they were loading into the gate. After I placed my bet it was 9/5. As the race went off and they were running the odds went to 6/5.
Betting on favorites for profit is a tough nut to crack.
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