Science Queeries podcast

A neigh-sayers’ guide to the odds

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On Melbourne Cup Day, we are reining in the hype of the horse racing and letting maths take the lead.

Betting on every horse seems like a “can’t lose” kind of thing…but it is. We’ll canter through the calculations, gallop through how the odds really work, and explore the maths & psychology that betting organisations exploit to show why the house always wins.

We don’t want to be backing foal’s gold.

Dr Cat is using the Spring Racing Carnival as a springboard to chat about probability and to empower you to make informed decisions. This goes way beyond betting to better understanding medical statistics (e.g. disease risk or prognosis), climate projections, and more.

If you or someone you know needs help, you can reach out to the Gambler’s Helpline for free and confidential support 24/7. You can find details at joy.org.au/support.

Originally aired Tuesday 3rd November, 2026.

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