Can a consistent long-term profit be acheived in horseracing markets?

[Bobby Fischer]

Originally Posted by hoovesupsideyourhead

The Edge Factor... Pretty Soon It Will Be The Tie In Too The Sales Pitch.... 5,4,3,2,1...............

Edge factor is just Value times estimatedHit%
=Value*hit%

Edgefactor is just an easier way of saying all that.
You can use it to decide how much you want to bet if you don't want randomness to cause you to ruin your bankroll.

Value is the $2price times estimated% divided by 2 value = ($2price*hitProbability)/2
So a $6 horse with a 1/3hit probability would be a break even wager or 1.00.