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Surprise research finding equivalent to 'drinking beer will make you drunk'

Shock horror in this one - a Betfair-funded study favours exchange betting and says it has caused no damage to the racing industries in the UK and Australia.

Now I'm not going to get into the argument of whether it has or it hasn't, but you could bet as much as you like at a price shorter than 1.01 (with a much greater likelihood of occurrence than Blackstairmountain winning) that the outcome was already decided..... why would Betfair fund a research study if they didn't know what "Eugene Christiansen, the noted U.S. gambling-industry analyst" was going to surmise?

Is there such thing as an independent study anymore? Call me a cynical bastard but every research study seems to conveniently agree with the people stumping up the cash.....

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