The Secrets Behind the Bookies: How They Really Make Their Money
31 October - 1 hour 21 minsEver wondered why the bookies always seem to come out on top? Or whether those tempting accumulators, bet builders and big-race specials are quite as attractive as they look?
Economist and UCD Professor Karl Whelan joins me on this episode to lift the lid on the economics of sports betting. His new book, Fine Margins: How Economics Explains Sports Betting, explores the mathematics behind the odds, the strategies bookmakers use to protect their profits, and why some of the most popular types of bets offer surprisingly poor value for punters.
There's also a brilliant story involving my great friend, the late Tony Fenton, Paddy Power and a €16,000 win on a Roy Keane Gift Grub sketch reaching...
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