AGRI Biz

At the beginning of the 2008 season, the bookmakers gave 250 to 1 against the Tampa Bay Rays winning the World Series that year. The Rays in fact failed to do so, but came a lot closer than almost anyone would have expected. Going into the Fall Classics, the odds were 7 to 5 in their favor, which is to say that someone who had paid "$1" for the bet, could have cashed out for over $100 (instead of winning $250) before the final resolution. Low budget teams like the Rays and the Pittsburgh Pirates, are, by definition, long shots to win anything. Hence they have to take, and win, long-shot bets that other, more fortunate teams would decline. Like trading for pitchers that others would consider fourth or fifth starters, and hoping that they can develop into front of rotation types. Or acquirin ...

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Article written by Tom Au