"If a friend was foolish enough to offer you odds of 50-to-1 on Gordon Brown winning the next election and the same odds on his losing, then you should bet at once."
Forgot the option that he might not be entered. Then he couldn't lose or win. Also forgot the option that friend may go bankrupt, etc. In these tough times even bookies can go bust.
Good article otherwise. Can't believe the number of people who place bets on the lottery and similar. "If you're going to bet on anything, bet on a certainty." I don't know if anyone's said that before.