I hate to jump in the middle of a brouhaha, but....you're both right actually.
What up TheRightSide? You make a very interesting point that is actually a sign of today's times: your thesis may not have been the case years ago, but is becoming more & more so with the passage of time & today's exotics opportunities. Before today's widespread exotics, which you mention, there used to be lots of people who made a living doing just such a Win Dutching thing... even Place Dutching was done.
In fact, before Vegas went parimutuel, the quickest way to get tossed by a book was to walk up to a teller and attempt to bet two or more horses to win, esp. dutched...if the place didn't toss one outright, they would harass one by getting one bet in but the other one shut out, etc.
The logic of the dutch is not flawed imho-- take how sometimes one bets a coupled entry that by force contains a likely also-ran that still depresses the odds...well, one can create one's own entry, with two or more 'good' contenders & odds as well!
And there is also bankroll 'velocity' to consider: let's say one hits 25-35% winners with one horse...why not win more than half of one's races bet 'even though the return per hit is lower'? Because flat betting aside, one makes a heck of a lot more money in the end! The higher hit rate allows for a formula with a high compounding rate(& btw the most notorious one, Kelly Criterion, is fundamentally flawed: possibly leading to ruin).
I like to make the analogy of a bank account: if one's money could be compounded every day or two or three, instead of once a month, one would quickly get rich...to a lesser extent, this is what we would be doing to the bankroll, making it grow at a faster speed...like a smaller horse beating a larger one, it wins with extra strides, even though they are smaller each.
(This is why i've gravitated to laying horses to lose in the exchanges: at a 90+% hit rate: though small, the payoffs can be parlayed several times)
Because if one utilizes the reasoning that one win bet in the dutch is an automatic loser, well the same applies to wheeling exotics then: dozens of combos are automatic losers!
And we haven't even mentioned the psychological benefits of enduring less prolonged losing streaks & winning more than half the time.
But again, with such a methodology one MUST compound...flat betting won't get it done.
BUT yes you're right, with so many more exotics options offered today, that may be the better option than the win pool in general, but it sure ain't easy.
Exactas/Tris? The problem with these is that, say one selects enough win contenders per race to achieve a 90% hit rate, irregardless of price, but instead decides to play them in exotics: well, those are Win contenders, not Place or Show contenders..."totally different animals". If one Exacta boxes all those Win contenders,(irregardless of profit, if any), the hit rate is much lower than ½. Win contenders may not be persevered with if the Win is out of reach...in such a case which of the severely outclassed horses' connections are willing to go all out for one of the minor awards?
Pick 3/4"s & DD's? Let's say we stick only to the 'rolling' kind, so that we're not stuck with an indescribably bad race or two utilized to encourage high mutuels...or else become close to a whale and bet several hundred at a time. If not, we must be prepared for LONG losing streaks: 30% hit rate 'per race'-- .3 X .3 X .3 = 2.7% hit rate per 'pik exotic'.
It's not easy. In the days of yore before pick threes arrived, field sizes diminished, & so much information became public knowledge, I'd find many races to dutch: as many as 4/5 horses in one race...but now everyone has all kinds of information at their disposal: from pace figs to bias to--Speaking of bias-- track maintenance has killed a lot it...& where it hasn't, jocks & trainers are so in tune with it, that often speedsters burn each other out trying to secure the golden front and/or rail position, allowing closers to win anyhow!
It is just VERY hard nowadays...wish i could travel back in time.
Ultimate Selector! What up dog? I'm a software junkie...can you say the name right here? If not, my member name here is the same at hotmail..tia.
All the best... & kindest regards to you both.