Yeah, they knew it was a smart bet because the odds were backwards, but the team they were betting on still had to win for Carlo's book to lose.

Here's a recent example: Oakland was a 3 point favorite in the Super Bowl. Suppose dopey Carlo was still around, and he accidently made Tampa Bay a 3 point favorite. All the "smart" bettors (including myself) would have bet on Oakland with Carlo's book, and then bet on Tampa Bay somewhere else. So now we have the "gambler's dream, a middle).

But the way the game turned out, Carlo's book would have won all the money bet, instead of lost.

Nice to see new members reading old posts. Welcome.