For the Irish as well as in most countries, many things in our lives are calculated by statistics. The price we pay for our household insurance is calculated on how likely it will be to be destroyed in some accident and how much it will cost to rebuild. Information on accommodation insurance can be lacking.
In the betting world the odds are calculated on how likely a horse or dog is to win the race and how many people are betting for that creature.
We buy lottery tickets knowing that statistically we have almost no chance of winning and we step on planes knowing that statistically there is almost no chance of crashing. We buy shares in blue chip companies knowing that according to their past performance and forecast they should increase in value. (more...)

