Gambling With an Edge cover image

Blair Hull Episode #4

Gambling With an Edge

00:00

The Long Shot Bias in Horse Racing

There's a long shot bias that the public likes to bet on the long shots, which make them overvalued even more. So it sounds similar in horse racing. The average loss on a long shot is about 50%. But if you're basically selling lottery tickets, where the edge is, your payouts are enormous.

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