Squares and Sharps, Suckers and Sharks: The Science, Psychology & Philosophy of Gambling Hardcover – September 1, 2016

This is Buchdahl's third book. I have all three and enjoyed them all. When this one arrived I was actually midway through about 6 other books, but they all took a backseat to this one until I finished it. He writes a good story; it is well researched and written in a style to maximize the interest and knowledge of the majority of readers. Given the subject matter there is a bit of maths/stats but this book contains less than the previous two, which are worthy companions for those with a gambling interest.However, I have chosen to comment on this book solely on the basis that I strongly believe it is worthy of a much wider readership than those with a gambling interest. I am not a gambler myself but have interests which overlap a lot of the decision-making concepts that arise in such an endeavor. There was an obvious broadening of his scope in this book relative to the previous 2 from the very beginning of the book and this was confirmed near the end when he wrote: "Researching and writing it has involved a personal journey of nearly 2 years in the making to understand how and why people chose to gamble. When I first embarked upon it, I had no idea it would take me so long and to such far reaches of human knowledge. It quickly became clear, however, that to do the subject justice I would have to adopt a very multi-disciplinary approach to my thinking..." Early on he mentions that he is taking the reader into the domains of: economics, behavioural and evolutionary psychology, neuroscience, quantum mechanics, chaos and complexity theory, game theory, history and ethics as well as gambling issues itself. In short, it considers many aspects applicable to decision making in the modern world. It has wider applicability than gambling alone.Buchdahl has intelligently positioned himself within the industry. He has amassed a massive amount of data pertaining to betting on soccer/football and tennis, which he makes freely available, and he has an established practice of verifying the performance of tipsters; an important contribution that is heavily considered in his previous book. The upshot of this is that he has considerable data/information available to him to explore a number of the concepts that he considers in the the introductory pages where he discusses issues with the multi-disciplinary flavor. Hence the books combines many topics of relevance to modern day decision makers with a focus on analyzing their strengths and weaknesses using this information. And this is where the book's power comes. Sure, gamblers are best catered for because of the nature of his data, but those who are able to 'think outside the square' and presumably exhibiting a 'sharp mind' in the context of the book's title, will benefit greatly as many of life's endeavors like investing, buying a house or insurance etc involves the kinds of processes discussed in the book. In fact, academics in the practice of decision-making theory heavily use betting markets to understand this aspect of life because it has clearly defined outcomes that are part of every day life. Buchdahl has nicely combined all of this into the one book. The chapter 'A market for lemons' has a number of themes, but nicely uses his verification of the tipsters to highlight many failings. Some of these ideas could easily be adapted to other areas, with a heavy focus of learning from your mistakes via an honest appraisal resulting from a verification practice. The world is 'watching' more than every before. The final chapter 'The Fox and the Hedgehog' gives a strong summation of how to operate as a successful gambler, in the spirit of the research of Daniel Kahneman and others' and has wider appeal than gamblers alone.I'm more than happy to give it 5 stars given its many plusses, though I do believe the book would benefit from having an index at the end. Many concepts are considered in a number of areas within the book and sometimes later in the read, you'd like to quickly re-visit an earlier thought but can't quickly locate it.I'd be proud to have written this book, but I am grateful to have a copy of it.NOTE: I have a printed version of the book. The issue with the index obviously doesn't apply with the electronic version.

Known things, articulated beautifully and in an understandable manner.

Quite handy in understanding the psychology of betting. I would recommend it to gamblers to refine their theories in the gambling world

if you gamble and are alive you might want to read this

nice book

This is a well researched, well written book that provides a hypothesis about why gambling is popular despite the reality that few regular gamblers will win more than they lose.Having read Joe’s two earlier books, I feel that this work represents the end of his journey from a curious and optimistic sports bettor to fully-fledged sceptic. Joe doesn’t believe that anyone can really beat liquid betting markets because the market engine is the best predictive model available. He makes a compelling case for his stance with his analysis of very large numbers of ‘tips’ from various sources.A question less well addressed is whether (and to what degree) sharps can exploit the short-term pricing inefficiencies that must exist (the closing market is more accurate than the opening market, so the market is not perfectly efficient).The book draws inspiration from a number of best sellers in the realm of behavioural psychology and randomness and I must say that his writing style stands comparison with them (his earlier works were somewhat clunky – so it’s not just his ideas that have developed over time).Ironically, for a book that almost says betting can’t pay (it would be counter Joe’s financial interest to be too strident), he outlines two football betting approaches that most definitely would pay (until your accounts get closed, anyway).If you have a serious interest in betting (especially sports betting), buy this book.

A really interesting book that deals with gambling, investing, probability and even philosophy. I've read a lot of books in this area and this is definitely one of the very best.If you have any interest in betting or investing you should read this.

I enjoyed reading this book, which is essentially an amalgam of the most recent thinking in behavioural economics, neuroscience and psychology as related to gambling. Having said that, one was rather left with the impression that Buchdahl was the equivalent of somebody who was very good at writing a sex manual, but not very good at having sex.The conclusion of the book, is nothing new; most punters do not win. The exploration of this theme is rather binary; people bet (in the context of the book, usually with fixed odds bookmakers), they fail to outsmart the purity of the betting market, and they loose.Much is made of the Pinnacle model of betting; but this was of course before the company decided that it would not be renewing its UK licence (presumably because the model does in fact not work in the face of sharp bettors). There is simply not enough on the Betfair betting exchange; on why Buchdahl does not use Betfair and on the useage of Betfair by syndicates.There is also not enough on the fact that betting has long moved beyond a simple transaction between punter and fixed odds bookmakers. No real mention of arbitrage; no mention of the distorting impact that spoofing on the betting exchanges is having on the betting market; no mention of the impact the exchanges are having on punter psychology (the ability to lay).As with any book of this sort, it now seems a little dated as regard its conclusions on the neuroscience of gambling, and, it has also missed out on some of the new key developments in behavioural economics post Amos Tversky and Daniel Kahneman.One is left with the conclusion that Buchdahl may have (unconsciosly) written the book in order to explain to himself why it is that he does not win at betting (and, for a man who does not, it is funny that he should spend so much of his time compiling a football stats website).In Nuce, the book tells you that if you bet, you will probably not win in the long term. Whether you buy it, will depend upon the degree and extent to which you want to be told that.

This is a very well-researched book which squares the circle of academic merit and popular appeal. I am no stranger to the field of gambling research, and am pleased to say that this book is a standout contribution in its consideration of the science, psychology and philosophy of gambling. Fascinating and fun for the casual reader, but well referenced for those wishing to delve further. I differ markedly on the theological slant, but that is a minor distraction for me from the bigger picture. That is of an excellent contribution to the canon of books that should grace the bookshelf (actual or virtual) of anyone interested in popular science, behavioural psychology, probability, or gambling. Highly recommended.

A fav quote of anti-gambling campaigners is “gambling is a tax on ignorance”. Politicians, priests and journos love that quote too. None of them ever read this book.I never thought I could find a work quoting Reuven Brenner, Daniel Kahneman and Michael Shermer in the same paragraph. Thought I had to write it myself sooner or later. Imagine my surprise in finding this. Joseph Buchdahl did it, and much better than I could have ever done.You can read this as a non-gambler, and by the end of it, you’ll be more informed than 99% of policymakers who preach about the evil of gambling fishing for votes.You can read this as a gambler, and by the end of it, you’ll be sharper than 99% of gamblers who claim to be winners. It won’t turn you into a winner (you will realise how hard this is) but for sure it will help you to be a much smaller loser and a happier player.A standing applause from a gambling industry veteran.

About 1/3 of the way through and really enjoying it so far. Prompted me to leave my first ever review anywhere, will be looking at authors other titles soon. Highly recommended.

If you have any interest in sports betting this is highly recommended. If you bet with any degree of seriousness this is essential. Entertaining, informative, provocative. Don't place another bet (other than as a mug or for entertainment's sake) until you have got to grips with what Buchdahl is telling you.