Thanks for the replies guys. It seems there is very little discussion going on now-a-days which is more the pity.

One aspect I have looked at is

1. Only considering the first 5 races on Saturday Melbourne meetings.
2. In Race 1 back Tipster's top selection for 1 unit a win
3. If a winner, pull up stumps, job done
4. If a loser, in Race 2 back Tipster's top selection for 2 units a win
5. If a winner, pull up stumps, job done
6. If a loser, In Race 3 back Tipster's top selection for 3 units a win
7. If a winner, pull up stumps, job done
8. Continue through Race 4 and 5 stopping at a winner or betting 4 units or 5 units.
9. Maximum loss is 15 units per meeting

Most Tipsters have a positive POT% after upto 80 meetings (some Tipsters have less meetings due to holidays etc, and me finding newer Tipsters to include).

Although not actual Tipsters, among the worst performers are horses with highest win%, highest place % and horses with highest average prize money. LOT are -27.4%, -35.0% & -40.4% respectively. I find this quite interesting as Win%, Place% and Average Prize Money are areas often used to zero in on horse selections.

Prepost Favourite currently has a 12.9% POT (62.9 unit profit on 487 unit turnover) which may substantiate the theory more favourites win on earlier races.

I appreciate any comments.

TTA