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If “the house always wins”, how do professional gamblers make a living? (continued)
Christopher Smith
Whitstable, Kent, UK
It isn’t always true that “the house always wins”.
One instance was the famous golf “hole-in-one” coup of 1991. After extensive research, two men from Essex in the UK, John Carter and Paul Simons, worked out that some bookmakers were offering far too generous odds on a hole-in-one being achieved at professional golf events.
The bookies simply hadn’t done their homework and in some cases got the odds they were offering completely wrong.
The true odds of a hole in one occurring…
