You betcha!

July 9, 2007 – “The best horse is not necessarily the best bet. In order to evaluate a bet, we must know or be able to estimate two things: the probability of winning the bet, and the payoff if we win. Either factor alone is meaningless; it is the relationship between these two factors which determines the expected return of the bet.”
Steven L. Brecher

This entry was posted on Monday, July 9th, 2007 at 9:25 am and is filed under Bits. Responses are currently closed, but you can trackback from your own site.