This system involves the placing of an each way bet with a high street bookmaker. It is hoped that there will be opportunities to take advantage of differing place prices between that bookmaker and Betfair.
In order to play the place markets it is first necessary to cancel the win portion of the each way bet by placing a lay bet on Betfair. This will usually lead to a loss, albeit not usually a big one, but stll, nevertheless, a loss. Any possible profits made in the place market will have to be defrayed by the losses incurred in the win market.
In view of the complexity of the operation and its associated risks with the practicaliities of placing bets with high street bookmakers, I do not feel that the system is of particular value. I am not saying that it cannot make money. I think, however, that close examination of the place markets on Betfair and confining oneself to bets on the Betfair place market only may prove to be more rewarding.