4 ms·
Odds like that are meaningless (imo) for singular events. It's a good bet in repeatable scenarios, far less so in elections.
by wpasc 9y ago
Odds like that are meaningless (imo) for singular events. It's a good bet in repeatable scenarios, far less so in elections.
- eloff 9y agoWhen you take a bet, you play the odds. You evaluate your expected return should you take many such bets, and if it's positive and you can afford to lose, the smart money is in taking the bet. In fact this is true of most anything you do in life - when you drove to work this morning you played the odds and the wager was your life against your salary. I'm sure you didn't think about it that way, but you took the bet
- saalweachter 9y agoBoth insurance companies and bookmakers are comfortable aggregating over many unique events.