Chatting thread. (Every forum must have one lol) - Page 24
That's an interesting take on things, And I'd like to weight in on this by saying that when it comes sports betting, the price of the odds is never a good indicator on whose the favorite and whose the underdog.phytrix wrote:Most economists would refute this statement and do so with both theoretical calculations/predictions and practical application. Punters act irrationality and, according to prior economic theory, quite unconventionally. This screws up the idealistic argument that a free-market economist would propose and, in the majority of sports gambling situations, would favour the gambler placing their odds on the favourites. Of course, only being a student, my economic understanding is restricted, although this seems to be how the situation plays out in the real world.Barnz wrote:Somehow all the favorites I bet on lost....
Never bet on favourites. I don't bet an I know this.
The whole 'never bet on favourites' myth, if you will, relies on economic theory, although sports gambling is an anomaly in the face of market behaviour.
But at the end of the day, a better rule would be to never bet unless you have a specific set of skills/knowledge that would increase your odds to be higher than 50%, which is also assuming you receive utility from said act and gamble both frequently and responsibly.
TLDR: Echo had unfavourable odds coupled with some bad luck.
The odds are set by the bookie and the price movement is driven by the public, sometimes ppl just bet on the short priced favourtie because they think the bookies set those odds because they know better than them, the more ppl that bet on that team the shorter the odds get, and than ppl start thinking the dropping odds indicate a certain winner...it's a vicious cycle known as the "public bet".
Bookies don't always get the odds right for the eventual winner, but more to the point they don't really need to get it right because theyll still make money from you regardless of who wins hence the constant price shifting. In play live odds is not that much different to the stock market. Some ppl win by trading bets.
All that being said, "never bet on the favourites" is only really true in the long run, because you'll never make much from the low odds, you're definately more likely to win betting on the underdog all the time in the long run. As a point of reference ppl who make a living out of betting on sports would never bet on anything less than even money, they are also very discipline and have a staking system.
Anyways bookies make money off punters and pros make money from bookies.
Wander often. Wonder always.
Likewise. All of my 3 uncles are heavily gamblers in their respective areas and none of them are happy.Kto wrote:My entire family gambles and they are all losers. Consequently, I don't gamble.
"...we create alternative pathways, little fragments of possibility."
http://www.flickr.com/photos/phytrix/
http://www.flickr.com/photos/phytrix/
Which are still horrible oddsCrispex wrote:You have better odds of giving me your money, and having me return it to you
On another note, I thought I found a really awesome and unexplored spot today, but it looks completely cleaned out and maintained to hold venues
It was previously a wool shed, so I was getting excited!"...we create alternative pathways, little fragments of possibility."
http://www.flickr.com/photos/phytrix/
http://www.flickr.com/photos/phytrix/
no reception means,
nothing to do on the loo, no reason for being late to work, having meaningful conversations with the missus, missing very important UEGA notifications!
Nawww missed you too buddy.sini wrote:I missed you guys heaps, finally got mobile reception again thank God.
Wander often. Wonder always.
dem feels!Echo wrote:Nawww missed you too buddy.sini wrote:I missed you guys heaps, finally got mobile reception again thank God.
Mobile data really needs to be cheaper
This month I've just not been near a fixed line connection very often.
Wander often. Wonder always.
She likes to talk about feelings a lot as well which I always find a slightly uncomfortable topic....
Wander often. Wonder always.
I remember when that used to be 'unlimited'Midget wrote:I used to upgrade pretty much every month when I was on Vodafone. Now I'm on the best mobile plan ever, Optus' $2 a day prepaid. Every day I get 500MB.
With the lights out, it's less dangerous
By
No+Pro
28 Apr 2015, 6:51 pm
Its over here.. behind the couch..Bravado wrote:Can't find the remote for the tv.
"...we create alternative pathways, little fragments of possibility."
http://www.flickr.com/photos/phytrix/
http://www.flickr.com/photos/phytrix/
No like button !phytrix wrote:Decided that I'll move back to Brissy in a couple of months
Aha yeah you'll have to show me some places around Brissy! It's nice that things are relatively easy to find up there. I have some mates who I am planning on homesharing with and one of them is really into exploring too, so it'll be nice to have someone to explore with a lotUnclehaggz wrote:No like button !phytrix wrote:Decided that I'll move back to Brissy in a couple of months
"...we create alternative pathways, little fragments of possibility."
http://www.flickr.com/photos/phytrix/
http://www.flickr.com/photos/phytrix/
And that's how exciting work is.