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The Gambler Who Cracked the Horse-Racing Code

PostPosted: Thu May 23, 2019 5:48 pm
by Brian
I'm sure many of you have heard about Bill Benter and his horse racing betting success but this article contains more info than I've read before. It's from a rare interview he gave last year and is a really interesting read.

The Gambler Who Cracked the Horse-Racing Code

I particularly liked this bit below and it's got me thinking about how I can improve my own systems.

" A breakthrough came when Benter hit on the idea of incorporating a data set hiding in plain sight: the Jockey Club’s publicly available betting odds. Building his own set of odds from scratch had been profitable, but he found that using the public odds as a starting point and refining them with his proprietary algorithm was dramatically more profitable. He considered the move his single most important innovation, and in the 1990-91 season, he said, he won about $3 million."