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Think about the odds available, and the likely outcome of any game or race. By betting on a random teams or horse to win, you will probably have a 45/55 chance of making money. For instance, if the actual chances of winning are evens, the payout will be distinct.90, or 9/10. This is simply so that the betting agency makes just a little bit, which is fair enough. So over the future term, if you just bet even stakes on random teams or horses you are destined to lose.

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