Quote:
Originally Posted by daca
betting markets vs polls in this election has been one of the stranger stories. remain/leave now 82/18 on betfair and i dont really get why.
daca:
Somebody (facetiously) opined that Betfair (and the others) are rigged. I have no idea why Ladbrokes, Betfair et al. would do such a thing unless (maybe ...) they think leaving the EU would be bad for their business?
I've never understood how sports betting and "setting the odds" works - I don't know what the difference between +900 versus -200 means - but I understand that odds makers who take bets on propositions like Brexit want to "balance" the betting - they don't want the aggregate of bets placed to be lopsided.
Since the polls and the betting markets are so out of alignment on Brexit, could this be one of those rare cases (like the 1969 Super Bowl) where the "experts" are just plain wrong? One things for certain: Somebody's wrong on Brexit. (If the betting sites turn out to be wrong, do they take a bath and lose a lot of money?)