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Yes, it seems that way, doesn't it. And yet. [Edit: imagine two bookies, both of them placing odds on different horses. how, exactly, are you going to figure
by leot 14y ago
Yes, it seems that way, doesn't it.
And yet.
[Edit: imagine two bookies, both of them placing odds on different horses. how, exactly, are you going to figure out which bookie to bet with in order to get the fairest odds?]
- olalonde 14y ago> [Edit: imagine two bookies, both of them placing odds on different horses. how, exactly, are you going to figure out which bookie to bet with in order to get the fairest odds?] Isn't that type of problem solved through arbitrage? Frankly, I'm really not sure I get your point.
- leot 14y agoArbitrage generally requires with equivalent commodities traded on different exchanges. It doesn't work when everything is different from everything else. In other words, arbitrage would only work if the bookies showed odds for the equivalent horses. But in this scenario they don't. (also see my most recently posted comment)
- olalonde 14y agoWell to answer your question, I won't bet because I don't like gambling. No one is forced to buy securities from shady banks.