AboutRichard Reed Expertise I am the owner/editor of the #1 Informational Guide of Las Vegas, Insider Viewpoint of Las Vegas.My 30-years of experience living, working, and gambling in Las Vegas coupled with six years of printing 100,000 magazines monthly about Las Vegas has earned expert credentials.My extensive background in current and yesteryear activities allows my readers a true "Insider Viewpoint" to the 24-hour city of excitement.
Experience Printing the #1 Informational Guide of Las Vegas for six years and creating the famous Insider Viewpoint of Las Vegas web site more than five years ago has given me an opportunity to share my knowledge with millions.Daily, more than 10,000 people visits my web site and search through the 1,000+ pages of information about the great city of Las Vegas and the surrounding area.My staff and I can help with the simplest question to helping you with a complete convention set up including hotels and air
My degree in accounting and business management was not a spring board to the occupation I have chosen.Las Vegas is more of a teacher of hard knocks and experience in the city, rather than learning it from a text book.
Building a world class web site is rewarding, but having companies like Dow Jones Business Directory/Wall Street Journal acknowledge that you have created a site worthy of their readers is truly rewarding.My web site, http://www.insidervlv.com , has received dozens of other prominent awards also.My site is used by many world famous companies to advertise their products, once again proving a lot of hard work and dedication will be noticed by the masses. In addition to Insider Viewpoint of Las Veg
I realize that you don't list horse racing among your specialties, but none of the experts do and perhaps you know the answer.
I realize that, in the long run, no one makes money betting on horse racing. The huge cut taken by the government and track makes sure of this.
But my question is this: assuming equal amounts of betting, does anyone do any better than anyone else (other than by random luck)?
For example, I notice that handicappers in the newspapers lose money over a season, as expected. But do they lose less than would someone randomly betting on horses, betting on horses whose names he likes, etc.
Common sense would, of course, conclude that the more knowledgable, the experts, would do better. But there is overwhelming evidence for the stock market that the market is so efficient that the prices of stocks (and unforseeable events) render the knowledge irrelevant.
Is this true of horse racing? Will the guy who bets by the horses names (often getting longer odds for weaker horses) do as well as the expert?
My totally uneducated guess is that the expert will do slightly better--though of course will also lose money. i say this because I've read that you do slightly better betting on favorites than on long shots and the guy who bets by name will bet on more long shots.
I'd be very grateful for your opinion on this.
Many thanks,
Steve
Answer Well, I think you may have already answered your question for yourself. In my opinion an expert is a person who performs a task over a number of years and is more correct answers than incorrect.
Yes, I think being informed is great, but tell me who is the longest running stock analyst in the world, I do not know their name, IF they exist.
Unlike describing experts in auto racing where many names come to mind, very few names ever come to mind when you talk about gambling. If gamblers do become known, it is usually because of poker, not sports betting or casino wagering.
I have lived in and around Las Vegas for 33 years and I hear and see big time players come and go and the best they do is provide entertainment for us spectators.
So I guess it all boils down to this, how in the world can a person call themself an expert if they loose money?
In certain situations over the years gone by we have had people that were outstanding gamblers, not poker players. Unfortunately the casinos have changed the rules on card counting and their fame went away.
If you think experts win more, then tell me how four guys put in 5k each and they now own 2/3 of the Triple Crown this year. All the experts passed that horse, and look at the millions spent in the horse industry and cash does not always make you a winner.
Hope I have not been to down on gambling. "We" all still play and hope for the ultimate win, but gambling is still something that needs to be played for personal enjoyment and "fun" rather than thinking it is going to be an occupation.
Richard Reed
vegas@insidervlv.com
www.insidervlv.com
