As Inform Racing has provided the winning speeds for each race type broken down by Age and Class, a lay system could be designed so that any horse which has a rating lower than the lowest winning speed rating for that race (type, age, class) then it's chances of winning are extremely small and it should be a lay candidate.
Considerations should be what would be the maximum lays odds to take, what ratings to compare against, LTO, Average, the highest of last 3 outings etc...