Quote:
Online gambling sites are basically just making a market between "buyers" and "sellers" and taking a cut. The "price" (odds) floats to reflect changes in buying and selling activity (not some detached assessment of the probability of an occurrence).This was what I found interesting, there is enough of a market for people who dont think a healthy 78 year old can sit in a chair for 4 years.
Most gamblers are not going to do this because of the payout coming in 3+ years.