E47 - The Evolution of Trading
Business of Betting Podcast
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Why Betfair Traders Lose Over Time
Betfair traders lose money every time they flip a coin. It's the same in pretty much any market if you look at foreign exchange or typical financial markets. The advantage on exchanges is that that marginal cost is particularly low however it doesn't stop people from still losing money to the middleman so I think a lot of people approach the market in too much of a simplistic way and are not trying to work out what their edge is.
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