formula's, travers, proportional odds bet based on 2 min pt w and ex pool analysis

[formula_2002]

will post shortly

[formula_2002]

"Saratoga
Race
12

Post
5:46

MTP
2
"Saratoga
Race
12

Post
5:46

MTP
2

$1 Exacta Pool
$1,386,838 "
BET PLAY PGNO
0.02 1
0.00 2
0.00 3
0.03 4
0.08 5
0.02 6
0.03 7
0.23 8
0.05 9
0.00 10
0.00 11
0.00 12
0.00 13
0.00 14
0.00 15
0.00 16
0.47

[formula_2002]

will post shortly
"Saratoga
Race
12

Post
5:46

MTP
2

$1 Exacta Pool
$1,386,838 "
BET PLAY PGNO
0.02 1
0.00 2
0.00 3
0.03 4
0.08 5
0.02 6
0.03 7
0.23 8
0.05 9
0.00 10
0.00 11
0.00 12
0.00 13
0.00 14
0.00 15
0.00 16
0.47

[formula_2002]

"Saratoga
Race
12

Post
5:46

MTP
2

$1 Exacta Pool
$1,386,838 "
BET PLAY PGNO
0.02 1
0.00 2
0.00 3
0.03 4
0.08 5
0.02 6
0.03 7
0.23 8
0.05 9
0.00 10
0.00 11
0.00 12
0.00 13
0.00 14
0.00 15
0.00 16
0.47


5 wins at 9.60-1

8X9.6 +8= 86.40 -47 bet = 39.40 profit

[formula_2002]

5 wins at 9.60-1

8X9.6 +8= 86.40 -47 bet = 39.40 profit

can anyone tell me why, in the long term this could be a losing bet?
and what it would take to be a long term winning bet?