People often confuse investing and gambling but the parallels actually run deep. The confusion lies in comparing most forms of gambling – slot machines, roulette, lotteries – where the house sets the odds with those where the players set the odds. The house sets the odds in its favor. The house – not you – is guaranteed to win the longer you play.
Unlike most forms of gambling, horse racing odds are set by the betting public. The odds change based on where the money flows. In that context, understanding horse racing might offer some insights into investing, which is where this post is heading. Continue Reading…
