I learned things about gambling that I didn't know. I knew the odds changed, but I didn't realize it was just to keep the balance. I would have figured they would take into account the probability of one side winning. Then again, if you have a guaranteed take if you keep the sides balanced, there's no need for them to gamble.
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Absolutely. In the old days the big bookies were alongside the other punters and many of them were really just BIG punters. Some of those larger than life players have been squeezed out over the years though and the corporate bookmakers have moved in.