[Derby] Computer Betting
In the original write up about William Benter (The Gambler Who Broke the Horseracing Code), this was said:
“A breakthrough came when Mr Benter hit on the idea of incorporating a data set hiding in plain sight: the Jockey Club's publicly available betting odds.”
I didn’t understand this statement. How do you find market value if you are using the parimutuel pool odds?
In the most recent article in the FT: “I used AI to bet on horse-racing.”, here’s what the brains behind the Elite operation said: “The best predictor of the win pool is the general public — just wisdom of the crowds.”
So, these geniuses claim that the betting public really knows more than their brilliant algorithms.
So what is up?
In the same article, it was mentioned that the CAW players are exploiting the differences between the exacta and win pools. They call it abitraging. Could you imagine the nerve of these guys wanting access to the pools as late as possible to exploit the data from the betting public. This is crazy.
Sal
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“A breakthrough came when Mr Benter hit on the idea of incorporating a data set hiding in plain sight: the Jockey Club's publicly available betting odds.”
I didn’t understand this statement. How do you find market value if you are using the parimutuel pool odds?
In the most recent article in the FT: “I used AI to bet on horse-racing.”, here’s what the brains behind the Elite operation said: “The best predictor of the win pool is the general public — just wisdom of the crowds.”
So, these geniuses claim that the betting public really knows more than their brilliant algorithms.
So what is up?
In the same article, it was mentioned that the CAW players are exploiting the differences between the exacta and win pools. They call it abitraging. Could you imagine the nerve of these guys wanting access to the pools as late as possible to exploit the data from the betting public. This is crazy.
Sal
Sent from the all new AOL app for iOS
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Derby mailing list
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Sub/Unsub: http://lists.derbylist.com/listinfo.cgi/derby-derbylist.com
