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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 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…
