People are notoriously poor at judging numerical probabilities. This allows the gambling industry to make enormous profits.
Today’s invention is intended to move the odds a little in favour of the punters.
A smartphone app allows a user to move sliders representing horses in a given race.
In the image, the black horse, eg, is 20:1 favourite, whilst the brown horse is 5:1 against (as represented by the ratios of the line segments).
Once this is done, the real, current odds are superimposed, so that a bettor can spot where his view of a given horse’s chance is greater than the bookmaker’s view.
A confident punter could use this as an opportunity to place a bet, whereas an inexperienced one might take the opportunity to abstain.
