I hear from a lot of people who lay big outsiders in the Betfair horse racing markets at ridiculous prices. They tell me how they never win and that it’s easy money. Generally these gamblers think that the outcome is so unlikely that they are prepared to risk a large proportion of their betting bank on each bet.
After the initial bullishness usually one of two things happen.
They either disappear to never be heard from again or the ones that are more committed come back to tell me how they learned their lesson.
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