Much though I resent the way the media fall for Sharpe's shenanigans every time, I would be the last to deny that the man knows his odds-making.
I suspect that the bookmakers do hedge on Betfair (to talk of an "arb" to an old-style bookie is likely to meet with a blank face as if you are talking Greek). Certainly the smaller bookies who also bet on-course are little more these days than conduit-brokers to Betfair -- so liquid is the Betfair market compared to the on-course market.
As for the Man Booker, so many times it's the least shitty option (i.e., the one that no more than one person absolutely hates). As in a recent "Shit my dad says" post on Twitter. "You don't have to be the best. You just have to be the least shitty option. Look, we're eating at the Olive Tree".
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Date: 2010-10-08 07:18 pm (UTC)I suspect that the bookmakers do hedge on Betfair (to talk of an "arb" to an old-style bookie is likely to meet with a blank face as if you are talking Greek). Certainly the smaller bookies who also bet on-course are little more these days than conduit-brokers to Betfair -- so liquid is the Betfair market compared to the on-course market.
As for the Man Booker, so many times it's the least shitty option (i.e., the one that no more than one person absolutely hates). As in a recent "Shit my dad says" post on Twitter. "You don't have to be the best. You just have to be the least shitty option. Look, we're eating at the Olive Tree".
PJ