Imagine if 5 prominent owners bought 2 slots for $1,200,000.
Then selected their best 2 mounts at nomination time.
They be ahead if they only come at least 2nd for $1,425,000 + $175,00+
Or break even for 3rd + 4th for 800,000 + $400,000.
Which (ignoring slings) seems to be a good value bet.
But if it is that good,
Then the other 10 slots look like duds!
So who in their right mind would buy those dud slots!
Not Tabcorp obviously, as it fails the qualifying condition.