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The one thing you might want to remember is that the sharks and/or whales zero in on the low-takeout bets. Sometimes, the bets with the 25% takeout are easier to beat.
In other words, if you're fading 15%, and there is 5% more smart money than stupid, then you have to be 20% better than the public. If the takeout is 25%, and there is 15% more stupid money than smart money, then you only have to be 10% better than the public.
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Very interesting Tom. I hadn't ever thought of that angle. I wasn't prepared for the debate that followed