Two lessons that I learned about life via Sports Betting
I've never been a gambler, I hate taking risks -- I'm pretty much what you call "risk-averse", and I especially hate taking risks where you know you're going to lose (i.e. betting at the Casino). But sports betting is another beast (kind of). Unlike the Casino where the odds are mostly stacked against you, think a 49% chance of winning as your best bet, Sports Betting is a place where you can place a bet where the chances of winning could be a whopping 99% (equivalent to decimal odds of 1.01). Of course, your payout (or return) for taking such a low risk would be minuscule. A bet of $100 at odds of 1.01 would yield you only $1.00 plus your initial $100 that you put in, for a total return of $101. And this is rightfully so, because the gambling houses would go broke if they paid you any more money for taking such a tiny risk. But here's the fun part, first of all, I'd be more than willing to take a bet with 99% chances of winning any day, given that I