Should you be afraid of a drifter? In some cases they're actually a great bet...
Are you familiar with the notion 'the wisdom of the crowd'? The term became mainstream following the publication of James Surowiecki's 2004 book The Wisdom Of Crowds in which Surowiecki offers up several examples to argue that the many are smarter than the few.
This is particularly significant when it comes to betting on horses because modern prices are determined by Betfair more than ever before and the exchange does nothing more than use the wisdom of the crowd to determine the percentage chance that each horse has of winning.
If Surowiecki is correct and the collective opinion of a diverse, independent group of individuals is better than that of a single expert, how can we use this to help our betting?
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