The referendum that is scottish Bookies had been predicting an 80 percent possibility of a ‘no’ vote, as the polls were contradictory and inaccurate.
Did bookies know the results regarding the referendum that is scottish advance, while polls were way off the mark? It sure appears that way.
Scotland has voted in which to stay the UK, with 55.3 per cent of voters determining against dissolving the 300-year union of nations and going it alone. Many were surprised that the margin between winning and losing votes was because wide as 10 %; a number of polls had predicted that the result was too close to phone and that the ‘Yes’ and ‘No’ campaigns had been split straight down the middle.
The reality is, polls were all around the accepted destination: contradictory and fluctuating wildly. They ranged from the lead that is six-point the ‘yes’ vote up to a seven point lead for the ‘no’ vote into the weeks leading up to the referendum. And they considerably underestimated the margin of the ‘No’ victory although they were correctly predicting a ‘no’ vote on the eve of the big day.
Margins of Error
Perhaps Not the bookies, though. They had it all figured out ages ago. While the pollsters’ predictions had been see-sawing, online sports outfit that is betting had already decided to spend bettors who had their money on a’no’ vote a few times before the referendum even occurred. Even though there was a whiff of a PR stunt about that announcement, it was made from the position of supreme confidence, because the markets that are betting rating the likelihood of a ‘no’ vote at around 80 percent at the least a week before the vote took place. It was a forecast that, unlike that of the heavily swinging results of the pollsters, remained stable in the lead as much as the referendum.
But why, then, are polls so unreliable when compared to the gambling areas, and exactly why is the news in such thrall with their wildly results that are unreliable? The polling companies freely admit that their studies are inaccurate, frequently advising that we should enable a margin of error, commonly around five percent. Which means in a closely fought race, such as the Scottish referendum, their info is utterly worthless. The existence of a 5 percent margin of error renders that survey useless in a race where one party, according to the polls, is leading by, say, 52 percent.
The Wrong Questions
You will find many factors that make polls unreliable, too many, in reality, to list here. Sometimes the sample size of participants is simply too low, or it is unrepresentative of the people. Often they ask leading questions, or those that conduct them are dishonest or sloppy about recording information. But the ultimate, prevailing explanation why polls fail is that they usually ask the question that is wrong. Instead of asking people whom they’ll vote for, they must be asking the question that the bookies constantly ask: ‘Who you think will win?’
Research conducted by Professor Justin Wolfers implies that this question yields better forecasts, because, to quote Wolfers, it ‘leads them to also think on the opinions of those because it may yield more truthful answers. around them, and maybe also’
Those interviewed by pollsters are far more likely to express their support for change, while suppressing their concerns about the possible negative consequences in a case such as the Scottish referendum, where there is a large and popular movement for change. When expected about an issue on the spot, it’s easier to express the perceived view that is popular. For the Scots, a ‘yes’ vote might express the appealing idea of severing ties with a remote and unpopular federal government in Westminster, but additionally means uncertainty and feasible chaos that is economic.
As Wolfers states, ‘There is just a historical tendency for polling to overstate the likelihood of real-money-casino.club success of referendums, perhaps because we are more prepared to inform pollsters we will vote for change than to do so. Such biases are less likely to want to distort polls that ask people who they think will win. Indeed, in giving their expectations, some respondents may also reflect on whether or not they believe current polling.
In a nutshell, when asked whether they would vote for an separate Scotland, a significant amount of Scots apparently lied. Gamblers, having said that, were brutally honest.
Suffolk Downs to Close Wynn Everett License that is following Choose
Suffolk Downs in happier times: Horseracing attendance has dropped by 40 per cent in the last few years. Now the choice of Wynn Everett for the East Massachusetts casino permit has sealed the racetrack’s fate.(Image: bloodhorse.com)
Suffolk Downs, the historic thoroughbred horseracing track in East Boston, is to close, officials have actually announced. Meanwhile, Wynn Resorts celebrates securing the sole East Massachusetts casino permit for his or her Wynn Everett project, that will see the construction of a $1.2 billion casino resort in Everett, barring a casino that is unlikely vote in November.
Suffolk Downs is be the very first casualty of this week’s selection process. In favoring the Wynn bid over compared to the Mohegan Sun’s, the Massachusetts Gaming Commission has hammered the nail that is final the coffin of thoroughbred horseracing in their state. Suffolk is one of only two horseracing tracks in Massachusetts, and the only one exclusively for thoroughbreds.
Mohegan Sun’s proposed resort would be to have been built on land owned by Suffolk Downs in Revere, and the racetrack had pledged to continue horseracing there for at the least 15 years should Mohegan Sun win the bid. However, the Commission, which voted 3:1 against Mohegan Sun, decided that the Wynn proposal offered better potential to produce jobs and start up brand new avenues of revenue for the state. Suffolk Downs COO Chip Tuttle made the statement that the track will never manage to continue right after the Gaming Commission’s choice ended up being made general public.
End for the Track
‘We are extraordinarily disappointed as this action is likely to cost the Commonwealth a large number of jobs, small company and family farms,’ Tuttle said. ‘ We shall be fulfilling with workers and horsemen over the next several times to speak about exactly how we wind down racing operations, as a 79-year legacy of Thoroughbred racing in Massachusetts will be coming to a finish, resulting in unemployment and doubt for many hardworking individuals.’
The industry has been hit with a 40 percent reduction in the past few years and Suffolk’s closure is likely to affect hundreds of thoroughbred breeders, owners, farriers and others whom make their living in Massachusetts horseracing industry. The necessity to safeguard Suffolk Downs had been among the primary motivations for the 2011 Gambling Act, which expanded casino gaming in Massachusetts and created the Massachusetts that is east casino, and the choice to go with Wynn has angered many people.
‘Today’s decision to honor the license to Everett effectively put several hundred of my constituents away from work,’ stated Representative RoseLee Vincent, a Revere Democrat. ‘It is disturbing that the commission could reduce the working jobs of 800 hardworking people.’
Numerous industry workers feel betrayed by politicians and also the Gaming Commission. ‘What’s depressing is we worked so difficult to have that gaming bill passed using the indisputable fact that it was going to save your self the farms and save racing in Massachusetts,’ said George F. Brown, the owner and manager of a farm that is breeding who added that the ruling would ‘probably just about … placed every one of the farms like mine out of company.’
Suffolk Downs opened in 1935, soon after parimutuel betting was legalized into the state. In 1937, Seabiscuit won the Massachusetts Handicap right here, breaking the track record along the way. The race was attended by 40,000 individuals. The track has hosted races featuring legendary racehorses like Whirlaway, Funny Cide, and Cigar over the years. In 1966, the Beatles played a concert right here on the track’s infield in front side of 24,000 screaming fans.
Fundamentally, however, a history that is richn’t sufficient to save yourself Suffolk Downs, and, ironically and poignantly, the bill that was made to rescue this famous old racetrack appears to have killed it.
Donald Trump Poised to Simply Take Back Trump Atlantic City Casinos
Is Donald Trump intent on saving Atlantic City or is he just interested in publicity? (Image: AP)
Can Donald Trump save Atlantic City? And can he?
The word from The Donald is he says he’s exactly what AC has been missing all these years that he can, and what’s more. As the Trump Plaza shuttered its doors this week and its non-Donald-related owner Trump Entertainment ready to file for bankruptcy, the billionaire genuine property mogul announced that he is ‘looking into’ mounting a rescue attempt.
Asked by the Press of Atlantic City whether he would step up to save The Trump Plaza and its own at-risk sister home, the Trump Taj Mahal, the Donald said, ‘We’ll see what are the results. If I can assist the individuals of Atlantic City I’ll do it.’
Later on, on Twitter, and clearly warming to their theme, Trump said: ‘I left Atlantic City years back, good timing. Now I might purchase back, at much lower price, to save yourself Plaza & Taj. They were run badly by funds!’
Trump is hugely critical of his former company Trump Entertainment in recent months, and has sought to distance himself from its stricken casino properties. In July, maybe catching wind of impending bankruptcy, he launched appropriate proceedings to have his name eliminated from the casinos so that they can safeguard his brand, of which he is hugely protective.
‘Since Mr. Trump left Atlantic City many years back,’ states the lawsuit, ‘the license entities have allowed the casino properties to fall under an utter state of disrepair and have otherwise failed to use and manage the casino properties in respect with the high requirements of quality and luxury required under the permit contract.’
Trump left the New Jersey casino industry in 2009, and Trump Entertainment was bought down by a small grouping of hedge fund managers and bondholders that are corporate who were allowed to retain the brand name in return for a 10 % ownership stake for Trump in the reorganized company. He has already established nothing to do with the gambling enterprises’ day-to-day operations ever since then.
‘Does anybody notice that Atlantic City lost its magic once I left years ago,’ Trump tweeted. ‘It is really unfortunate to see just what has happened to Atlantic City. Therefore many decisions that are bad the pols over time: airport, convention center, etc.’
Within the early ’80s, Trump embarked on a joint project with Holiday Inn and Harrahs to build the break Inn Casino Hotel. It absolutely was completed in 1984, in which he immediately bought out his company partners and renamed the property the Trump Plaza. It was the casino that is first ever owned, and this week it closed. Could it be that the notoriously cold-blooded property developer features a side that is sentimental? Or perhaps is it, just, as many folks think, that he can not resist some good promotion?
Promotion Stunt a Possibility
Senator Jim Whelan (D-Atlantic) thinks in the explanation that is latter.
‘Donald is really a guy who likes to see his title in the paper,’ he said. ‘He’s never been shy about looking for publicity or publicity that is obtaining. Issue is whether this is more publicity for Donald or whether he’s intent on coming back to Atlantic City in a real means. We will see later on. Is Donald Trump wanting to get some publicity, or is he serious? And if he’s serious, come on in and write some checks.’
‘I am able to see Donald’s ego wanting him to return as a savior,’ agreed gaming consultant Steve Norton. ‘ I don’t think Donald’s name would help the casinos that much,’ he said. ‘Our issue is, other casinos have opened up and stop traffic from Philadelphia and New York.’
Intriguingly, so that as if to spite the naysayers, the Trump’s helicopter was seen arriving on the top for the Taj on Tuesday. Could it be that Trump is really prepared to put his cash where his mouth is?