Dis-intermediating markets with buyer / seller technology; and the Grand National!

So this cab driver in Warrington the other day, he says to me, "you a betting man, mate?"  Sometimes, I says, sometimes. "Had a trainer in the cab the other day.  Gave me a tip for the National.  Snowy Morning.  Dead cert".  So he writes it down for me.  Then just as I'm getting out, he says, "Oh yeah, Don't Push It, that was the other one...."

So for about the first time since Red Alligator in 1968,  I had the winner.  As did my Mother in Law, who used the time honoured methodology of 'I liked the name'.

And because I used Betfair - a very interesting model of a dis-intermediated buyer / seller market that cuts out the friction and cost of supply chain participants who do not add real value to the process - I got much better odds than the 10/1 starting price.  Betfair is fascinating actually; if I didn't have a few other things to do I could get quite hooked as I've always been fascinated by probability and chance.  You can bet on things happening in a conventional manner; or you can bet against, taking on the role traditionally played by the bookmaker.   Luckily for my bank balance,  as well as liking numbers and probability, I also fundamentally don't like losing money.  But I do I have two outstanding bets on Betfair; one relating to the next leader of the Labour party; and one on the winner of American Idol!

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