Hardcore Gamblers Predict Who Is Going to Win the Election
Recently I was in Kentucky, reporting on horseracing for Garden & Gun. A "whale" (bettor of thousands of dollars per day) I interviewed, Mike Maloney, successfully traded securities, options and futures, but chose to go to the track every day instead because it offered him a greater challenge. "There are many, many, many more factors to consider in betting horseraces," he said.
Maloney is a youthful fifty-two, with alert, light blue eyes and a cheerful demeanor. He doesn't chomp on a cigar. He's in no way a Damon Runyon character. I have reason to believe he's a sort of mathematical genius.
I asked him: "Do you think handicappers can forecast the outcome of the presidential election better than polls?"
He didn't hesitate. "Polls can be inaccurate. People may say what is politically correct, the questions may be leading, the pollsters may be biased. A pollster can still bill for an inaccurate poll. Bookmakers must make an accurate line or they lose -- period."