bill benter reddit

In September 1988, having amassed a few hundred thousand dollars, he returned to Hong Kong.

Mr Benter had achieved something without known precedent: a kind of horse-racing hedge fund, and a quantitative one at that, using probabilistic modelling to beat the market and deliver returns to investors.

Mr Woods impressed Mr Benter with his tales of fearlessness, recounting how he'd sneaked past airport security in Manila with US$10,000 stuffed into his underwear. Why does the title of this article call Benter a racetrack king? The next racing season, ending in the summer of 1990, he lost a little but was still up overall. He felt disconnected from his gambler friends in Wan Chai - a nocturnal clique of geeks and rogues.

America's pastime was just too unpredictable. Wager too little, and the advantage is squandered. Some of what follows relies on his recollections, but in every case where it's been possible to corroborate events and figures, they've checked out in interviews with dozens of individuals, as well as in books, court records, and other documents. Look for line movements at NFL football betting sites. Big Race Bookie Busters – Six Month Update. What can we do to help you?".

Your email address will not be published. Mr Benter wanted something more rigorous, so he went to the library at the University of Nevada at Las Vegas, which kept a special collection on gaming. After Bobo Duck, Mascot Treasure, and Frat Rat romped across the finish line - and then days turned into weeks, with no one collecting the prize - Mr Benter was unprepared for the level of mounting public interest. Mr Woods knew there were giant horse-betting pools to tap in Asia - and that the biggest of all was run by the Hong Kong Jockey Club. He can see the odds change in the seconds before a race as all the computer players place their bets at the same time, and he's amazed he can still win. If they went out at all, it was to the McDonald's down the street. He re-read the club's statement. 35 of their bets had correctly called the finishers in two of the races, qualifying for a consolation prize. Interviews with Mr Woods's friends, employees, and other sources indicate he had amassed a fortune of A$900 million (then about S$1 billion). Press question mark to learn the rest of the keyboard shortcuts. Mr Woods kept betting in a slightly different manner, sending members of an extended roster of Philippine girlfriends directly to the racetrack with bags full of cash. The two men picked through them, isolating three slips that contained all 36 winning lines. So I'm just now slowly getting back into horse racing after a few years away. Here at Honest Betting Reviews we are commencing a series of articles looking at the greatest professional gamblers of past and present. Throughout 1997, a shadow loomed over Hong Kong. He went to the Gambler's Book Club, a Vegas institution, and bought everything he could find on horses.

Mr Benter and Mr Woods rented a microscopic apartment in a dilapidated high-rise. By continuing we assume you accept the use of cookies. "I find the real business world to be a lot more difficult than horse racing," he told me. The guard walked out, and an even more menacing guy walked in: "Show me your f---ing ID!". Mr Woods had more money than Mr Benter and was willing to recapitalise their partnership - if it was renegotiated. Mr Benter hired two women to key the results into a database by hand so he could spend more time studying regressions and developing code. Mr Woods didn't drink much, but he enjoyed ecstasy, and he could be found most nights in Neptune II, a neon dungeon full of drunk businessmen and much younger women.

When he was a young man, Benter read a book beloved by many a gambler, Beat the Dealer.

The current system we are reviewing that sounds most similar to the methods used by Benter is Elite Ratings System – let’s hope they can emulate some of the success achieved by Bill , Your email address will not be published. To simplify, imagine that the gambling public can bet on a given horse at a payout of 4 to 1. That means Mr Benter can put less at risk and get the same return; a seemingly small edge can turn into a big profit.

He told me he'd been driven only partly by money - and I believed him. In pursuit of mathematical perfection, he became convinced that horses raced differently according to temperature, and when he learned that British meteorologists kept an archive of Hong Kong weather data in south-west England, he travelled there by plane and rail. Phoenix, a proprietary sports-betting company with headquarters in Malta and data-mining operations in the Philippines, won a £9 million (S$16 million) investment in 2010 from a unit of RIT Capital Partners Plc, the £3 billion trust chaired by Lord Jacob Rothschild of the global banking dynasty. The American sportswriter Roger Kahn once called the sport "animated roulette".

In 1980, he'd just applied for a job as a night cleaner at McDonald's when his buddies introduced him to the man who would change his life. During our interviews, it was the one topic that made him visibly uncomfortable. Kelly's equations, applied to the scale of betting made possible by computer modelling, seemed to guarantee success.

On top of the indignity of having their mug shots next to hustlers and pickpockets, the notoriety made it almost impossible for them to keep playing in Vegas. I'm not so much interested in exactly what they're computing (although that would be interesting) but more learning about modern approaches and how things have advanced since Benter's early years. More variables, better variables, and finer weightings improve the predictions. I’d say anyone nailing it online is having to do it by jumping from book to book and using proxies. And the impact of bad luck can be diminished by betting thousands and thousands of times. (RIT sold its stake in 2016 to a private buyer, quadrupling its money.). On Saturday morning - race day - they checked the Internet connection and put a "Do Not Disturb" sign on the door. It was the era of peak disco, with Donna Summer and Chic's Le Freak all over the radio. He worked with one of his baseball backers to start betting on US horse racing. At the crack of the starter's pistol, the announcer's voice rang out over loudspeakers: "Last leg of the Triple Trio," he shouted in Australian-accented English, "and away they go! Last night I went down the Bill Benter rabbit hole with this article: The Gambler Who Cracked the Horse-Racing Code! Last night I went down the Bill Benter rabbit hole with this article: The Gambler Who Cracked the Horse-Racing Code!

But a log-in is still required for our PDFs. Fellow Thorp acolytes were easy to spot on casino floors, tending to be conspicuously focused and sober. He had helpers haul in laptops, a 50-pound printer, and stacks of blank betting slips. In December 2007, he sent a letter to Business Review Weekly, an Australian magazine, asking to be considered for its rich list. "Horse racing will continue, and the dancing parties will go on," said Mr Deng Xiaoping, the former Communist Party leader. Required fields are marked *, Get email updates on betting and trading reviews, To weed out the scams, failed systems and bogus tipsters and to find you the best trading tips and, Each Way Sniper Auto Software – Final Review, Exponential Bet In-Play Betting System – Final Review, JK Diego’s Draw Betting System – 15 Month Update, These guys have not only managed to succeed where 98% of gamblers fail in actually making money, but have taken things to a whole other level in making, Bill Benter – a global gambling phenomenon, The geography of Bill Benter’s life spans the globe, from his hometown of Pittsburgh, Pennsylvania to Hong Kong, where he made a fortune and, as a professional gambler, revolutionized racetrack betting. Veteran gamblers know you can't beat the horses. Like them, Mr Benter was a complete nerd. To make money, Mr Benter would have to do more than pick winners: He needed to make bets with a profit margin greater than the club's 17 per cent cut. I think we could all benefit from a quick "library" of interesting HR topics!

Assets: A$939,172,372.51. Mr Woods started calling himself Momu - short for "master of my universe.". And Mr Benter spread the secrets of his success in various ways: He gave math talks at universities, shared his theories with employees and consultants, and even published an academic paper laying out his system. The Western - with its dollar cocktails and shabby patrons getting drunk at 10am - and the faded El Cortez were his turf. Mr Benter faced an additional and more peculiar anxiety.

He left school, boarded a Greyhound bus, and went to play cards in Las Vegas. Then they posed, laughing, for a photo - two professional gamblers with the biggest prize of their careers, one they would never claim - and locked the tickets in a safe.

Only one thing Mr Benter ever told me turned out to be untrue.

Mr Benter opted to move back to Pittsburgh, where he continued to bet. and I'm sure most of the seasoned enthusiasts are well aware of this piece. Thorp is famous for his work as a hedge fund manager, and he was an early investor in Buffett and Ken Griffin, but I am impressed that he invented card counting for blackjack (I believe the Bloomberg article on Benter says that Thorp inspired Benter, who started by counting cards) as well as an early wearable computer that he used to beat roulette.

He didn't mind the scruff.

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