Massive amounts on $1.01

[lakers2324]

Every horse race i see in AU, there is massive money for every horse at $1.01

Can someone please explain to me what is happening here and the rationale of the bots working here.

Thanks

[gazuty]

Every horse race i see in AU, there is massive money for every horse at $1.01

Massive - well sort of, not really.

$6k @ 1.01 is $60 of liability exposure.

Some people lay at 1.01 in the hope of a reversal or to capture a fat finger and there are some stats that suggest that laying the field at 1.01 can be long term profitable (particuarly if you are at the front of the queue).

[rik]

all about being front of the queue, they probably worked out at what amount it stops being value