MAD OR RECKLESS? EITHER WILL DO, BUT TRY EVIL.Prior to the cricket's starting this morning, the toss was taken.If you got it right, you were rewarded with $1.95, and only $1.90 some places,You were able to back England too, at those same odds.It was drawn to my attention at the local TAB as I slipped in to check something else. A fellow was noisily boasting about "what an easy way it had been to make money".You might have thought that EVERYONE would know the odds about the toss of a co
MAD OR RECKLESS? EITHER WILL DO, BUT TRY EVIL.
Prior to the cricket's starting this morning, the toss was taken.
If you got it right, you were rewarded with $1.95, and only $1.90 some places,
You were able to back England too, at those same odds.
It was drawn to my attention at the local TAB as I slipped in to check something else. A fellow was noisily boasting about "what an easy way it had been to make money".
You might have thought that EVERYONE would know the odds about the toss of a coin.
They're fifty-fifty.
You learn it as one of the very first things in Maths, no matter what the level.
Get it? The bookies offer us 19/20, or 9/10 which is much, much worse. Don't think in five cent units, but work it on, say, ten grand and see how much it is!
Ten grand at evens, the ONLY fair odds for this bet, is a win of $10,000.
At 19/20 it returns a profit of $9500.
And at 9/10, or 1.90, you get $9000 profit.
AND IT'S A GUESS!!!!
You try to guess at odds-on what must always be evens.
Remember, this is for a genuine 1/1 chance, a chance that can NEVER be anything else, no matter how many tosses may have come up heads, or tails, in sequence.
This must be the worst example of fleecing the poor ignorant punters that I've come across in a long, long time.
Maybe you say they can look after themselves? Maybe so, but we protect everyone against theft.
So what else would you call this?