Are regular bettors and the house helped or hurt when deep-pocketed, high-volume computer-assisted bettors are wagering? Mathematicians used game theory to model this new wrinkle in parimutuel betting.
Simply filling out a bracket – even with random or uninformed choices – is enough to boost your confidence in success, and to get you to put more money on the line.
The favourite in the betting won has almost every single US presidential election since 1868 and more recently the Academy Awards. But how well can the market predict the Nobel Prize winners?
Beyond polls and betting markets, how else can we gauge how people feel ahead of future elections? Social media is a goldmine, and one of the newer ways to tap into it is with a “social mood reader”.
Australia’s iconic sporting event – the Melbourne Cup – will see more than 100,000 punters pack into Flemington Racecourse this Tuesday, while those at work around the country pause to tune in to The Race…
Debate in the referendum continues to rage over to what extent we can trust the opinion polls. While the Yes side have most recently being putting their faith in the circa one million undecided voters…
I’m a relatively well-disciplined guy. In my brief time in this world, I’ve managed to complete a degree, quit smoking, and exercise thirty-odd kilos of self-indulgence away. But if there’s a TV on in…
GAMBLING IN AUSTRALIA – Some say “punting is a mug’s game”. But is this always true, or can an astute gambler make long-term profits? Certainly not from casino games. Casinos make profits by paying less…
GAMBLING IN AUSTRALIA – Australians spend about $20 billion every year gambling. This level of expenditure is, according to The Economist, the highest in the world on a per capita basis. Some would argue…