Profitable Strategies in Horse Race Betting Markets
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چکیده
In this paper we discuss a way to construct a strategy of betting that can generate abnormal returns in horse race betting markets. Using the theory of discrete choice models and Generalised Additive Models one can build a model to predict the probability of a given horse winning a given race. The paper further discusses the Kelly betting system as a way of exploiting estimates of winning probabilities so to generate abnormal returns.
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تاریخ انتشار 2013