Pen PROFIT GREEN fields @Dio
Wow! That's a lot of frustration. This 'game' that we all play can certainly do that. Some of what you say is true but not completely. Also, some is not true but again not completely.
Observing the tote board is impossible, even to the well connected. You will never know the true odds of the horse(s) you wager on until after the start so there really is no reason to check the tote.
I say, go ahead and bet your overlay. If you can psychologically accept the outcome that 75% of the time you will lose that wager then good on you. I know that I can't and Dave has said that he can't either.
Cashing tickets more often has a less negative effect on the bankroll and thus a more positive effect on your psyche and a boost to what Dick Schmidt called the 'velocity of money'. Keeping those fluctuations to a minimum is something that I've learned that I need.
I'm not sure what you refer to when you say 'perception'. I'm seeing something incrementally better than anything I've seen before and I've seen a lot.