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Beating the Odds

https://www.pinnacle.com/en/betting-articles/educational/asymmetric-information-in-sports-betting/J3T2578E83PXH3XF

This website is focused on gambling with this article in particular focusing on the value of an asymmetric market when placing a bet. This article pays attention to how knowing more than everyone else allows one to make a bet for instance in horse racing where the betting odd’s aren’t accurate to the horse’s actual probability of winning.

This post relates to class as it states how knowing more than everyone else allows one to make a bet for a large payout on a horse that is more likely to win than what the crowd thinks. This also ties in to the wisdom of the crowds in how betting odds are created. The post talks about how in order to place a bet where you have more information than the odd’s is to find a niche market in which the crowds are too small to congregate to good information.

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