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Responding to Steve Mellon, "According To Whom?"

Posted By: Paul Weaver
Date: Saturday, 2 July 2011, at 9:24 a.m.

In Response To: Wimbledon: Odds on Finals (Steve Mellen)

My numbers come from www.betfair.com. This is a British site that matches bets from people on opposite sides of a contest. They make their money by taking a small percentage rake from the winner. They do not only sports, but also political races, as well.

The volume of betting is high enough to give me confidence that a bad line will quickly be corrected.

I read in the paper that Betfair had a profit of 54 million pounds (87 million dollars) in the first four months of 2011.

It is a shame that the USA, which claims to be the "Land of the Free" does not allow its citizens the freedom to engage in online betting. We could use the tax revenue.

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