Does that work, then?
But what, then, do the Labour odds of 1/6 mean? How does 1/6 end up signifying a 69% chance, if I got that right?
Never thought this would end up a thread to teach me about betting ... <grins>
I'll book the bet myself, joe, but against a minimum $1 Grand payout, or a larger full multiple thereoff. And, of course, any mutually agreeable escrow arrangement, involving certified funds, will be fine. Looks to me like a fairly certain 8%+ Annual ROI, plus whatever minimal interest as will accrue from the escrow account. I have a few investments I wished were doing that well.
nimh wrote:But what, then, do the Labour odds of 1/6 mean? How does 1/6 end up signifying a 69% chance, if I got that right?
It means that you'd win one pound for every six pounds you bet. In other words, the bookies pretty much think Labour is a "lock," a "sure thing."
Giving odds that equal 100%, in contrast, would leave the bookie no room for profit.
Oh, OK. So 1/6 means the same as when you would have written ... 7/6 ?
When do they switch from the one style of noting the odds - say, 7/2 for a Tory victory - to the other style - in the example, the 1/6 odds on Labour? Why not just write 7/6?
Suzette, I agree about '04, but '12 is a bit too far off for my ability to achieve determination with sufficient probability to justify a wager, Re your '08 conjecture, I'll take that straight up, no odds, for $10 Grand right now, and either your attorney or mine can draw up and execute the escrow, subject, of course, to the other attorney's review and approval. I trust certified funds deposited into an independently controlled and mutually inaccessible-untill-on-or-after-Nov 12 '08-maturity Money Market Fund will be acceptable, but I'm more than willing to discuss alternate accomodations should you prefer. Lemme know.
It'll be a very tight race. My guess is that it could go to the Supremes again ( because of the Nader factor ).
Ahhhhh, heck. whatchya go an' tell her for, nimh? She was so happy there for a minute
Yeah, Soz, that reflects the odds of Kerry securing the Dem Nomination. Drill down a bit there, and you'll find there is no traffic against it, meaning, essentially, there's no bet. Bush remains better than 6-to-4 favorite to win the election, and the issue continues to draw traffic, with a stable-to-downward trend of buys-against.