eg Two punters are given 7 points to bet with how they see fit.
One punter has seven individual 1 point ante-post bets all @ 20/1. Only one actually makes it to the course and returns 21 points of his original 7 points outlay.
One punter does not bet ante-post and just has the one bet on the day, one 7 point bet @ 2/1, returning 21 points for his original 7 point outlay.
Both punters have exactly the same value.
Now this is interesting ginge!
Both punters have the same value? What is your definition of value here?
Surely one punters maximum possible return is £21 and the other punters is £147 at the time the bets were struck?