Gambling question: I am confused. Someone please explain.

By well-wisher

Sun, 01 Mar 2015
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  1. Team games between two teams, such as football, can only have 3 outcomes; win, lose or draw.
  2. So one should only require a betting syndicate with 3 people in it to make money out of them, surely? Unless I’m missing something. One person to bet on one team winning; one person to bet on the other team winning and one person to bet on a draw.
  3. I’m assuming there must be a good reason why people don’t do this because it seems like, if they would/could, the 3 person syndicate would always make money.
  4. If the problem is that the winnings would be too small then you could always make it a two person syndicate and then you’d only have to worry about a draw but you’d still have a 2 in 3 chance of winning which surely is still a good thing.
  5. Obviously, this wouldn’t work with tournaments, I’m only talking about betting on individual matches.
  6. I don’t see any reason why bookmakers would have a problem with this, either; they wouldn’t lose any more money out of it than if people were just betting randomly.
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