Efficiency Of Racetrack Betting Markets 2008 Edition
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| Author | : Donald B. Hausch |
| Publisher | : World Scientific |
| Total Pages | : 679 |
| Release | : 2008 |
| Genre | : Games & Activities |
| ISBN | : 9812819193 |
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.
| Author | : Donald B Hausch |
| Publisher | : World Scientific |
| Total Pages | : 679 |
| Release | : 2008-06-20 |
| Genre | : Mathematics |
| ISBN | : 9814470643 |
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.
| Author | : Donald B. Hausch |
| Publisher | : Elsevier |
| Total Pages | : 561 |
| Release | : 2011-08-11 |
| Genre | : Business & Economics |
| ISBN | : 0080559956 |
Its basic empirical research and investigation of pure theories of investment in the sports and lottery markets make this volume a winner. These markets are simpler to study than traditional financial markets, and their expected values and outcomes are uncomplicated. By means of new overviews of scholarship on the industry side of racetrack and other betting markets to betting exchanges and market efficiencies, contributors consider a variety of sports in countries around the world. The result is not only superior information about market forecasting, but macro- and micro-analyses that are relevant to other markets. - Easily studied sports markets reveal features relevant for more complex traditional financial markets - Significant coverage of sports from racing to jai alai - New studies of betting exchanges and Internet wagering markets
| Author | : Leighton Vaughan Williams |
| Publisher | : Cambridge University Press |
| Total Pages | : 412 |
| Release | : 2005-09-29 |
| Genre | : Business & Economics |
| ISBN | : 1139445405 |
The degree to which markets incorporate information is one of the most important questions facing economists today. This book provides a fascinating study of the existence and extent of information efficiency in financial markets, with a special focus on betting markets. Betting markets are selected for study because they incorporate features highly appropriate to a study of information efficiency, in particular the fact that each bet has a well-defined end point at which its value becomes certain. Using international examples, this book reviews and analyses the issue of information efficiency in both financial and betting markets. Part I is an extensive survey of the existing literature, while Part II presents a range of readings by leading academics. Insights gained from the book will interest students of financial economics, financial market analysts, mathematicians and statisticians, and all those with a special interest in finance or gambling.
| Author | : William T. Ziemba |
| Publisher | : Echo Point Books & Media |
| Total Pages | : 430 |
| Release | : 2019-02-04 |
| Genre | : Games & Activities |
| ISBN | : 9781635617443 |
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
| Author | : Bill Benter |
| Publisher | : Diana |
| Total Pages | : 56 |
| Release | : 2020-02-14 |
| Genre | : Games & Activities |
| ISBN | : 9789841259938 |
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.
| Author | : William T Ziemba |
| Publisher | : World Scientific |
| Total Pages | : 489 |
| Release | : 2018-12-21 |
| Genre | : Business & Economics |
| ISBN | : 9813278803 |
Exotic Betting at the Racetrack is unique as it covers the efficient-inefficient strategy to price and find profitable racetrack bets, along with handicapping that provides actual bets made by the author on essentially all of the major wagers offered at US racetracks. The book starts with efficiency, accuracy of the win odds, arbitrage, and optimal betting strategies. Examples and actual bets are shown for various wagers including win, place and show, exacta, quinella, double, trifecta, superfecta, Pick 3, 4 and 6 and rainbow pick 5 and 6. There are discussions of major races including the Breeders' Cup, Pegasus, Dubai World Cup and the US Triple Crown from 2012-2018. Dosage analysis is also described and used. An additional feature concerns great horses such as the great mares Rachel Alexandra, Zenyatta, Goldikova, Treve, Beholder and Song Bird. There is a discussion of horse ownership and a tour through arguably the world's top trainer Frederico Tesio and his stables and horses in Italy.Related Link(s)
| Author | : Peter Asch |
| Publisher | : Greenwood |
| Total Pages | : 216 |
| Release | : 1986 |
| Genre | : Games & Activities |
| ISBN | : |
A day at the races, with its colorful variety and fact-paced action, appeals to people from all walks of life. Not surprisingly, the idea of going home with a few more dollars than when one arrived is part of horseracing's charm. In this entertaining but substantive volume, two distinguished economists, who happen to be horseracing buffs, outline a tested strategy for placing bets that will increase the reader's chances of a happy outcome at the track. The authors are the first to point out that getting rich at the racetrack is unlikely. They do maintain, however, that with attention to their systematic approach, the racing fan can achieve the best possible chance at winning. In the process, the reader learns some of the most important measurement techniques in the social sciences, as well as the basic methods of market analysis.
| Author | : Leonard C. MacLean |
| Publisher | : World Scientific |
| Total Pages | : 883 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 9814293490 |
This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.
| Author | : Plácido Rodríguez |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 213 |
| Release | : 2017-07-28 |
| Genre | : Business & Economics |
| ISBN | : 1785364553 |
This unique book delves into a number of intriguing issues and addresses several pertinent questions including, should gambling markets be privatized? Is the ‘hot hand’ hypothesis real or a myth? Are the ‘many’ smarter than the ‘few’ in estimating betting odds? How are prices set in fixed odds betting markets? The book also explores the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports.
