I have been following a couple of place betting systems which I came up with for betting the place on betfair. Unfortunately I can not put the selections upo here before the race as the price movement of the win odds as well as the price available for the place odds are part of the selection technique.

I will though put the results of following a staking plan that might work with this. The idea is simple. You place all up bets until you make 20 times the starting amount. So if you start with $1 bets then you place all ups till you get to a return of $20. Once you hit $20 you pocket it all and start the whole thing again but with 10% of the winning amount. So in this case it would be $2 for the starting bet with an aim to make $40. If we hit that then we pocket $40 and start betting with $4 with an aim to make $80. The bet sizes and amounts to make are below:

$1 = $20
$2 = $40
$4 = $80
$8 = $160
$16 = $320
$32 = $640

So far (in theory as no bets were placed) my systems have returned the following odds in order:

1.41
1.63
1.18
1.61
1.09
1.53
1.57
1.44
1.52 <-- $1 became $21.54 here. So pocket $1.54 as profit and start betting with $2.00 per bet.
1.5
1.3
1.15
1.11
1.15
1.12
1.17
1.29
1.51
1.32

The current result for the sequence is up to $17.42

The idea is you have have 10 attempts to get the run required. If you don't hit it in that you have only lost your inital $10. The idea is risk little money for big rewards.

I have stopped the progression at $32 because the highest bet there would be around $550 - $600 and I just don't think we will get the liquidity on betfair to cover bets which go much higher then that in the place market. Just out of interest $200 on each selection would have yeilded $1254 return after commission, but this method is to get from the $10 you start with in order to increase your bank so that you can start a flat stake of at least $100 or $200.

I have no idea if this will work but I'll give it a go and see what happens.