[Wildbill]

It doesn't work in the real world because a lot of people take shots at it. The final change of the board occurs about 20 seconds into the race and you wouldn't believe how many times show money comes flooding in on the favorite. The place sometimes still offers a little value, but not much. In general the rule of thumb is that the shorter the price horse, the likelier that you will get a good value betting it to place, but probably not show. In any event to purely apply this system is very hard to do because many times you will think you have a value and then the last second bettors will all take it away.