Another variation is to lay everthing except the first few in the market to lose $100. Then lay the first few in the market to gradually pay out more than the previous in the market.
eg 4th pick is $10 so bet is $100/11, pay out is $111.
Lay 3rd pick to pay $113.
Lay 2nd pick to pay $115.
Lay fav to pay $120.
Or thereabouts.

Either method you can turn a profit when something that is at long odds that you give no chance to wins.