Recent comments in /f/dataisbeautiful

Perpyderpy t1_jcvd4i5 wrote

Perhaps that's true in the U.K. but being consistently profitable from Horse Racing is a very real thing in the U.S. The biggest issue for most is that the smaller casual player is not betting in a manner to potentially provide consistent long-term profits, nor are they accessing information/bankroll that the larger syndicates and groups have.

Edit:A bookie has no reason to automatically restrict you from betting because you win consistently, there are PLENTY of other people who lose consistently to pay you off.

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rabbiskittles t1_jcu2kne wrote

I would call it a beeswarm plot. It’s essentially a type of dot plot, and can be thought of as a non-summarized version of a boxplot, histogram, or violin plot (non summarized meaning you plot each individual observation rather than a summary metric like median, total, density, etc.).

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Westcork1916 t1_jctyauo wrote

Reply to comment by vlsdo in [OC] Bank failures come in waves by pranshum

This is a great analogy. What we saw in the past three waves was a handful of failures that triggered a "flight to safety". Customers started moving their money to safer places; i.e. larger banks or liquid assets. That left smaller banks without the required capital reserves, which led to more failures and more withdrawals.

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GoSouthCourt OP t1_jctxhco wrote

I'm glad that you have enough discipline and treat the losses as price of admission! But unfortunately not everyone can manage that.

Take your example, if someone comes out ahead from the first two days by betting on the favourites, what are the odds that they think "well that's easy profit, I'll just bet on all the favourites from now on!" and proceed to lose all their winnings (and potentially more).

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GoSouthCourt OP t1_jctvqad wrote

Of course if you know the ins and outs of the horse racing industry you can make much more informed choices and enforce much more sophisticated strategies than the wider public. But consistently successfully profiting from gambling with bookmakers is not a real thing. They would have restricted you well before you can consistently profit from it.

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PII-Throwaway-878 t1_jcttpph wrote

So what you're saying is that if I bet favorites for the first two festival days, I'll come out ahead. Shut up and take my money!

Seriously though, I will go to the track occasionally. Admission is nearly free, I'm allowed to bring a cooler with beers and sandwiches onto the apron, and there's a section for smoking (typically, cigars). Placing a small wager is part of the fun. I don't mind that there's a 17% rake (here). It's a small price to pay for a fantastic day out that allows me to embrace the socks-and-sandals phase of life.

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