Guess there is such a thing as frugal gambling

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Heard on NPR this morning: a woman placed two $0.10 bets at Swartz Creek Raceway and won $21,584. That’s a CAGR of infinity according to my little calculator (starting amount $0.20, ending amount $21,584, # of years = 0.00002, assuming the whole thing took 10 minutes). Actually, I had no idea placing such low bets were even possible. She had to pick the top four finishers in the correct order, something called a Superfecta.


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