Oz Blog News Commentary

Betting markets swing further to Labor

April 15, 2019 - 11:00 -- Admin

Via Mark the Ballot: Turning individual seat odds into probabilities is vexed. For the decimal odds used by online bookmakers, the maths is simple: The problem starts with the bookmaker’s over-round. If we sum the odds for every possible outcome, the probability exceeds 1. For the individual seat prediction markets, the over-round can exceed 1 by

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