Still Looking for My Answer on the Horse Betting Quiz
Yesterday morning, I posed a challenging question for horse bettors:
Is there ever a situation in a parimutuel betting system in which you would want to bet on a horse to win, even though you knew for sure that the horse would lose the race?
But I am still looking for the answer I have in mind, so keep on thinking. I knew this was a hard one.
Hint #1: It does not involve arbitrage between the parimutuel pool and any other odds.
Hint #2: It does not involve influencing other people’s perceptions of what the true odds should be.