"Positive expectation" is the expected "value" that we think we have found in the particular wagers that we make. Now...is this "expected value" REAL...or is it strictly ASSUMED? In a "dynamic" game such as horse racing, one is never sure about how to answer this question...regardless of how "successful" the given player has been in the past. You could be a sizable winner for five consecutive years...and fall on your face in year six. And we all know this...that's why we consider it prudent to take the necessary precautions. We wager only with money that we could easily afford to lose...and we call what we do "GAMBLING".
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Live to play another day.
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