Computer-Based Horse Race Handicapping and Wagering Systems
- ISBN-10
- 9841259931
- ISBN-13
- 9789841259938
- Category
- Games & Activities
- Pages
- 56
- Language
- English
- Published
- 2020-02-14
- Publisher
- Diana
- Authors
- Bill Benter, William Benter
Description
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.
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