We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.
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episode 14: The Man Who Bet His House on a Pop Song - A Eurovision Tale
You can gamble on horses or on the turn of a card - but Daniel Gould made a living betting on the outcome of the annual Eurovision Song Contest. Daniel made a profit because he studied the voting history of the competition, as well as the cultural and geo-political factors that predict which songs will triumph and which will score "nil point".
In 2018, Daniel was so sure of his system of reducing the risk that he took out a loan on his home and bet it on Israel's song to win... only to see the entry from Cyprus suddenly rocketing up the leader board. Was Daniel about to lose everything?
For a full list of sources used in this episode visit Tim Harford.com
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