zlacker

It's not just the bookmakers either - there are syndicates, much like hedge funds, whose entire 9-5 job is trying to make money out of this stuff too, which forces the bookies into line and makes the prices on markets like Betfair fairly efficient.

Basically, as a guy on the street, you don't have a clue and you're up against MIT-tier brains trying to beat you.

It's interesting to me that more people don't realise this is intuitively obvious, though. No-one would look at the Olympics and think, oh yeah, I can run faster than Usain Bolt.