Long shots are high payers for a reason
A 50/1 shot is a long shot for a reason. If the bookies are prepared to give you £50 for every £1 you wager, then this horse, golfer or football team is probably not going to win during your lifetime. That's not to say that 50/1 shots never, ever, ever come in. But they don't win often. Remember that the bookmaker likes to take between 5% and 10% profit from each transaction, and the higher the odds the more "juice" they take so its reasonable to say that only about 1% of 50/1 bets actually win. There is a very good reason why bookmakers are very successful businesses - and it is not because they are charitable or give money away.
