bill benter algorithm

At elementary school, it was already obvious that Benter has outstanding skills in mathematics. ), Efficiency of Racetrack Betting Markets. (1) Benter identified 130 variables (e.g. While doing so Benter went bankrupt once, needing to return to the United States to look for new financing and got ditched by his business … 183–198. Every aspiring horse racing punter dreams of the perfect wining formula or system. Close to a billion dollars later, he tells his story for the first time. A third positive attribute of a computerized handicapping system is its consistency. Bill Benter did the impossible: He wrote an algorithm that couldn’t lose at the track. Handicapping races manually is an extremely taxing undertaking. One aspect that isn't mentioned, is that Benter (and Zeljko Ranogajec, mentioned at the very end) got a large edge over over punters by negotiating large discounts/rebates from the betting pools by providing such large volumes. Bill Benter the man who created a horse racing betting algorithm and made £Million’s. Someone who was there cites it in a paper of their own, and then a bunch of other people copy the citation without actually having seen/read the "paper". Bill Benter and an associate named Paul Coladonato had their eyes fixed on a bank of three monitors, which displayed a matrix of bets their algorithm had made on the race—51,381 in all. Benter … I think this is the first time Benter has admitted winning the Triple Trio. “Advances in the Mathematical Modeling of Horse Race Outcomes.” 12th International Conference on Gambling and Risk-Taking, Vancouver, BC, Canada (May 2003). If you're interested in those two papers, the earlier paper 'Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races' (Bolton, Ruth N. and Randall G. Chapman) is also worth reading: http://www.ruthnbolton.com/Publications/Track.pdf. past runs, speed etc) that influence the result of a race. Thanks for the info! 184 W. BENTER money. I found the second paper behind a paywall: > I found the second paper behind a paywall: A Gambler Who Cracked the Horse-Racing Code. Even ingrade school, it became evident that Benter had exceptionalmathematic skills as he would often work out different equationsin his head just for fun. San Diego, CA: Academic Press, pp. After receiving his degree in physics, he started his professional gambling career counting blackjack in Las Vegas. There are videos of him (just search youtube) presenting at conferences detailing some of his algorithms too... there are no secrets being revealed for the first time here! I don't believe that's a paywall, just Researchgate being scummy like usual and using a citation while pretending to have a copy - all that would do is ping Benter to ask for a copy. The one solution to bring in more horse racing winners then losers. He and his team review past runs to assign values for each horse against each of these variables.

No, he told this story decades ago, and published papers detailing his algorithms, e.g. It's easier to make a profit when you are getting (say) 10% back on your losing bets... Disclosure: paraphrasing Sirlin http://www.sirlin.net/ptw/, https://www.scribd.com/doc/166556276/Benter. Benter, W. (1994).“Computer Based Horserace Handicapping and Wagering Systems: A Report.” In L. Hausch and Ziemba (eds. Soon he was known in many casinos and escorted out as soon as he tried to enter. There's a copy of the first paper available at: I've found that many conference "papers" were never actually written as papers at all, they were just oral presentations at a conference. I come to HN for comments like this. No, he told this story decades ago, and published papers detailing his algorithms, e.g. Pretty big thing to not mention TBH, given the odds are so slim once you take the track's take into account. As Benter grew up, he desired to use his mathematical talentsto make a living but he didn’t want to have to devote his lifeto teaching or any other regular 9 to 5 job, so … William Benter was born in Pittsburgh, Pennsylvania andthat’s where he spent the majority of his childhood. I wanted to read those papers, but I can't find anything about the second one beyond the fact that it exists. A computer will effortlessly handicap races with the same level of care day …

Bill Benter was a Vegas card counter turned professional horse racing handicapper. I can't find any evidence that that conference presentation was published or that the conference proceedings as a whole were ever published. Benter, W. (2003). Armed with a strong quantitative background and endless dedication, he was determined to develop a successful betting algorithm and beat the Hong Kong racetracks. While many talented mathematicians decide to choose a career of research or teaching, Benter chose to put his skills into more practical directions – to make money. >there are no secrets being revealed for the first time here. It is understood that these variables reflect both the horse's form and how the race will be run. The only mention of it I could find just said it was suspected he had won the unclaimed prize.

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