A mug’s game

Last week, The Lawyer revealed the latest partner to have entered the Lovells senior partner race. In the article, the relative chances of success – displayed as odds – of each of the candidates was also assessed. However, a glitch in The Lawyer’s plans to launch a sideline as a bookmaker has been discovered. One kind reader has contacted us to point out that our odds are not, as is customary in these things, stacked in the bookmaker’s favour. Quite the contrary it would seem, as our reader asserts that arbitrage betting on every outcome guarantees a profit of more than 30 per cent. Suffice to say that all bets are off.