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The final race of the day – a BM85 over 1500m – has attracted a capacity field (plus emergencies) with Team Snowden’s Steyne ($3.20) heavily backed as soon as markets opened. The four-year-old gelding has won four from his six race starts, all those four being in succession – two before a spell and two since. Pelethronius ($6.50) has won three in a row himself, with six wins from 12 career starts overall. Meiner Freccia ($15) is an ex-Japanese horse having his ninth start for Kim Waugh with three wins and three minors to his name in Australia, and three wins and 12 placings from 24 starts in total. Imanui ($8.50) is second-up having never been out of the placings when second-up. Admiral Jello ($17) is first-up with one win and a second from three fresh starts while Muraqaba ($15) is also first-up and another who has had some backing in the early markets.

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Let’s take that same single number bet we looked at above. The payout is the same (35-1), but the odds of winning are lower, since there’s now only one winner out of 38 numbers. Meanwhile, you’ll now lose 37 times out of 38. That’s seems like a small change, but it makes a significant difference when it comes to the expected value:

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