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Good post FlatStats. I would add that my perspective would be from living in NJ and looking to bet primarily U.S. tracks. If you're betting on European racing, the liquidity issue is not there.
Also, you made a good point about the temptation to back yourself up and cover yourself is always there. Sure, some may be above that, but for the rest of us humans, it's easy to eat into your profits to the point they are barely there. That's great, a small profit, except you need a lot of those to offset the times your "saver" doesn't work, and it's the opposite of how I like to play the game. It's tempting to go back and forth looking for a better price though. Very tempting.
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