The catch though, from a couple of times I’ve tried placing big bets on unlikely events, is that (most) bookmakers don’t seem to accept them. They might accept a $100 bet but not a $1000 one on such odds. They suspect you have inside information. (The same happens I’ve heard if you repeatedly win at roulette in some casinos. Goons appear and instruct you firmly that you may only bet on the low-stakes tables from now on.)
Right, the EMH doesn’t fully apply when sharks can’t swoop in with bets large enough to overwhelm the confederacy of Georges. The odds bookies offer are a hybrid between a market and a democracy.
Right, the EMH doesn’t fully apply when sharks can’t swoop in with bets large enough to overwhelm the confederacy of Georges. The odds bookies offer are a hybrid between a market and a democracy.