Originally <a href='/showthread.php?p=17039504'>posted</a> on 12/07/2012:
The betting public is not stupid. People are only stupid when it's free. When they spend their money they're not stupid at all and you can find this out by examining the efficiency of the betting markets. It doesn't matter if some recreational bettors bet improperly (the amounts they bet are so small that they don't really care), what matters is if the line on offer is accurate. And it is.
You have provided no indication at all in this thread that you are any sharper than the average bettor. Betting a small amount on an obviously severely outdated line on an unknown and possibly unreliable bookmaker in Turkey is not evidence of sharpness. You are coming across as a smug kid.
There is absolutely no evidence that the public's preference for favorites (if indeed such a preference exists) causes an exploitable bias in the market. In fact, most betting markets are biased in the opposite way (i.e. the strongest favorites you back, the less you lose).
Books don't stay in business because people bet stupidly. They stay in business the same way a casino does, because of the juice.
Originally posted by Sawyer
You have provided no indication at all in this thread that you are any sharper than the average bettor. Betting a small amount on an obviously severely outdated line on an unknown and possibly unreliable bookmaker in Turkey is not evidence of sharpness. You are coming across as a smug kid.
Originally posted by Sawyer
This is how even these books stay in business.