@barryofarrell polls were accurate in Qld and on Saturday. Betting markets got both entirely wrong. .
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Betting Markets show how the bookie will not make a loss - not what the outcome will be https://mumbrella.com.au/laurie-oakes-vs-sportsbet-377998 …
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The Top Minds of Australian Journalism http://kuuv.io/i/VQSlIDk.png
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@philYoung17 are bets actually available on elections or is this a tax dodging scam by bookmakers? Pardon my cynicismThanks. Twitter will use this to make your timeline better. UndoUndo
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"betting markets are always right" is another rehash of the efficient markets hypothesis, deserving of same caution.
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The betting market got Brexit wrong too. Wonder how much it would take to warp the odds.
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Betting markets are not designed to select the winner. They are framed to fill the pockets of the bookie by including a margin
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generally out by a factor of 5.
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I'll put a bet on a Nov ReVote
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@BernardKeane It won't be long before the actual "punters" realise how useless the pundits are.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Betting markets don't reflect what bookies think will be outcome, rather weight of opinion (money) for that outcome.
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If hung parly, no one wins, bookies keep all the money I guess.
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@snooplady We vote. We don't bet.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Alan Jones was carrying on about betting odds on
@Channel7 on Saturday night@BernardKeaneThanks. Twitter will use this to make your timeline better. UndoUndo
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At the seat level sportsbet got 8 seats wrong .. plus whatever is the outcome of the 8 or so in the balance still
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nah usual excuses will be trotted out.
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