Computer-Based Horse Race Handicapping and Wagering Systems

Computer-Based Horse Race Handicapping and Wagering Systems

Author: Bill Benter

Publisher: Diana

Published: 2020-02-14

Total Pages: 56

ISBN-13: 9789841259938

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The Gambler Who Cracked the Horse-Racing Code Bill Benter did the impossible: He wrote an algorithm that couldn't lose at the track. Close to a billion dollars later, he tells his system. This book examines the elements necessary for a practical and successful computerized horse race handicapping and wagering system. Data requirements, handicapping model development, wagering strategy, and feasibility are addressed. A logit-based technique and a corresponding heuristic measure of improvement are described for combining a fundamental handicapping model with the public's implied probability estimates. The author reports significant positive results in five years of actual implementation of such a system. This result can be interpreted as evidence of inefficiency in pari-mutuel racetrack wagering. This paper aims to emphasize those aspects of computer handicapping which the author has found most important in practical application of such a system. Also included the Bill Benter "What Are My Odds?" Presentation at ICCM in 2004.


Fortune's Formula

Fortune's Formula

Author: William Poundstone

Publisher: Hill and Wang

Published: 2010-06-01

Total Pages: 399

ISBN-13: 0374707081

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In 1956, two Bell Labs scientists discovered the scientific formula for getting rich. One was mathematician Claude Shannon, neurotic father of our digital age, whose genius is ranked with Einstein's. The other was John L. Kelly Jr., a Texas-born, gun-toting physicist. Together they applied the science of information theory—the basis of computers and the Internet—to the problem of making as much money as possible, as fast as possible. Shannon and MIT mathematician Edward O. Thorp took the "Kelly formula" to Las Vegas. It worked. They realized that there was even more money to be made in the stock market. Thorp used the Kelly system with his phenomenally successful hedge fund, Princeton-Newport Partners. Shannon became a successful investor, too, topping even Warren Buffett's rate of return. Fortune's Formula traces how the Kelly formula sparked controversy even as it made fortunes at racetracks, casinos, and trading desks. It reveals the dark side of this alluring scheme, which is founded on exploiting an insider's edge. Shannon believed it was possible for a smart investor to beat the market—and William Poundstone's Fortune's Formula will convince you that he was right.


Beat the Racetrack

Beat the Racetrack

Author: William T. Ziemba

Publisher: Echo Point Books & Media

Published: 2019-02-04

Total Pages: 430

ISBN-13: 9781635617443

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Discover the irresistible allure of horse racing and the thrill of winning. This invaluable book shares a proven, easy to learn system that you can use to beat the odds and win big at the racetrack. It helps you determine which horse to pick and what size your wager should be based on tote board data, and it reveals strategies for maximizing your winnings. With clear writing and entertaining real-world examples, authors William Ziemba and Donald Hausch explain the fundamentals of track racing and show how patterns of public inefficiency in betting pools can lead to you reaping big payoffs. Rather than focusing on the complicated details of thoroughbred handicapping, the groundbreaking "Dr. Z" system offers mathematical models based on stock-market analysis. After their initial scientific analysis of historical data from past races, the authors verified their betting method by testing it with real bets--and it worked. It teaches you when to bet and what a good bet is, and advises how much to wager based on your betting stake. When properly applied, the method's average profit per dollar wagered is about 10%. Using it, you will be able to minimize risk and increase your winnings. "This book is for people who want to win. The gambling system it presents is one of the few I have ever seen that I think really works. I am convinced enough to bet my own money on it." Edward O. Thorp, from the book's introduction


Efficiency of Racetrack Betting Markets

Efficiency of Racetrack Betting Markets

Author: Donald B. Hausch

Publisher: World Scientific

Published: 2008

Total Pages: 679

ISBN-13: 9812819193

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A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science.


Betting on Horse Racing For Dummies

Betting on Horse Racing For Dummies

Author: Richard Eng

Publisher: John Wiley & Sons

Published: 2005-04-01

Total Pages: 384

ISBN-13: 0764578405

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How to enjoy a day at the races-and bet to win! The last two years have seen a record number of Americans tune in for climatic Triple Crown races featuring Smarty Jones and Funny Cide; in 2004, television viewership jumped a whopping 61 percent over the record set in 2003, and the Belmont Stakes race itself drew a record crowd of more than 120,000! This easy-to-understand guide shows first-time visitors to the track how to enjoy the sport of horse racing-and make smart bets. It explains: what goes on at the track what to look for in horses and jockeys how to read a racing form and do simple handicapping how to manage betting funds and make wagers that stand a good chance of paying off. Complete with coverage of off-track and online betting, it's just what anyone needs to play the ponies-and win! Richard Eng (Las Vegas, NV) is a racing writer and handicapper for the Las Vegas Review-Journal, a columnist for the Daily Racing Form, and the host of a horseracing radio program in Las Vegas. He was formerly a part of the ABC Sports team that covered the Triple Crown.


Against the Crowd

Against the Crowd

Author: Alan Potts

Publisher: Aesculus Press Ltd

Published: 2004

Total Pages: 130

ISBN-13: 9781904328186

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The methods of a modern backer. Alan Potts is a full-time professional punter, who makes a steady and lucrative income from gambling. In this book, he reveals, for the first time, the techniques and methods that consistently give him the edge over bookmakers. Anyone who bets on horses will find valuable insights on how to become - and stay - a winner.


Pedigree Handicapping

Pedigree Handicapping

Author: Lauren Stich

Publisher:

Published: 2004

Total Pages: 0

ISBN-13: 9780972640138

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Pedigree Handicapping reveals how evaluating a horse's bloodline is most commonly used in maiden special weight races. It also points out the many other areas where pedigree handicapping has proven to be a powerful tool.


Belair Stud

Belair Stud

Author: Kimberly Gatto

Publisher: Arcadia Publishing

Published: 2021-05-17

Total Pages: 140

ISBN-13: 1614234736

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From their opening in 1740 through the 1955 closing, Belair Stud Farm became known as one of the most important stables in American racing. Although the high-profile murder of the farms final owner, Billy Woodward, eventually forced the farm to close, it did produce an extraordinary number of winning horses throughout its expansive history. The farm claims three Kentucky Derbies, three Preakness Stakes, and six Belmont Stakes, winning titles in several prestigious English races. It remains one of two stables to have produced more than one Triple Crown winner, and it is also the only stable to have produced father-son Triple Crown winners. Its list of legendary thoroughbreds includes Gallant Fox, Omaha, Johnstown, Granville, and Nashua. However in addition to the history of champion thoroughbreds, there is a second history devoted to the many interesting people whose own stories are part of the Belair Stud farm, including Samuel and Benjamin Ogle, "Sunny" Jim Fitzsimmons, former slave Andrew Jackson, and even George Washington.


Picking Winners

Picking Winners

Author: Andrew Beyer

Publisher: Houghton Mifflin Harcourt

Published: 1994

Total Pages: 246

ISBN-13: 9780395701324

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A classic guide to handicap strategies in the field of thoroughbred racing Just as football evolved with the introduction of the forward pass and basketball with the development of the jump shot, so too was handicapping forever changed by the use of speed figures--and it all started with Andrew Beyer. With a foreword discussing the changes that have swept horse racing since the book's original publication in 1975, Picking Winners is essential reading both for serious horseplayers and curious amateurs.