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ETFsRfun


Total Posts: 1
Joined: May 2017
 
Posted: 2017-05-19 23:50
How would you use odds to bet a basket of horses tomorrow? Business Insider had an interesting article that got me to thinking - there has to be a way to play odds as a "portfolio" and hopefully minimizing risk. Would love to hear any thoughts.

jslade


Total Posts: 1060
Joined: Feb 2007
 
Posted: 2017-05-22 23:03
Have a look at Steve Skienna's book on Jai Alai betting.

https://www3.cs.stonybrook.edu/~skiena/jaialai/

Thorp and Shannon also bought favorites at race day end; the pari-mutuel system undervalues those if there isn't a lot of sophisticated betting going on (aka punters trying to make their money back on a long shot).

"Learning, n. The kind of ignorance distinguishing the studious."

TonyC
Nuclear Energy Trader

Total Posts: 1242
Joined: May 2004
 
Posted: 2017-05-27 10:01
Bill Ziemba's "Dr Z's Beat the Race Track" is a pretty good intro.

I used to go to the track and use an old atari handheld to implement Ziemba's calcs. My impression is, that like everything else, the proliferation of electronic markets has reduced the edge, and the game is no longer to find cheap "place" or "show" bets; but to find cheap exotic/combo/parlay bets

flaneur/boulevardier/remittance man/energy trader
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