Can a consistent long-term profit be acheived in horseracing markets?

[Bobby Fischer]

Belmont Race4 $10 to win on #3 Polonui
estimated $2 price=7
est. hit%=.3
Value=1.05
edgefactor=.315
wager amount=10

+

Belmont Race4 $24 to show on #3 Polonui
estimated $2 price=3
est. hit%=.7
Value=1.05
edgefactor=.735
wager amount=24