I remember this story from years back and dug it out
https://fivethirtyeight.com/features/in ... s-betting/
Where there's serious money to be made, people will always look to get an edge - dodgy or otherwise. I do think the specific sports should look to keep it out as best they can, like tennis seemingly have done/does. Not for the sake of regular joe trader/better, but for their own good will. Whether it can be done is much more questionable.
Have people got a competitive edge?
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Would it be advisable then to turn XM off when trading HOrse racing markets?