4min chapter

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The Economics of Sports Gambling (Ep. 388 Rebroadcast)

Freakonomics Radio

CHAPTER

Is the Stock Market a Form of Gambling?

As sports betting becomes more and more reliant on technology, you have to wonder what sort of an edge there is to be gained by betters who are more analytically adept. I ask victor matheson if sports gambling will be dominated by the team of quants that builds the best algarithm. There's no doubt that big data allows you to engage in all sorts of gambling strategies that look like they have an advantage for you. The problem is most of that turns out to be data mining works great looking backwards, but going forwards, it doesn't workr one number two is that even when you find a strategy that works, you got to keep it under wraps,....

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