If, that is, the model were accurate. By the end of Benter’s first season in Hong Kong, in the summer of 1986, he and Woods had lost $120,000 of their $150,000 stake. Benter flew back to Vegas to beg for investment, unsuccessfully, and Woods went to South Korea to gamble. They met back in Hong Kong in September. Woods had more money than Benter and was willing to recapitalize their partnership—if it was renegotiated.
The Grand National is the most prominent race in British culture, watched by many people who do not normally watch or bet on horse racing at other times of the year. Many of the sport's greatest jockeys, most notably Sir Gordon Richards, have been British. The sport is regulated by the British Horseracing Authority. The BHA's authority does not extend to Northern Ireland; racing in Ireland is governed on an All-Ireland basis.
If you are looking to make money from sports betting then you need to play for the long term and accept the short term risks. This is quite a challenge as humans are hard wired for short term reward and as a result short term thinking. This is even more evident now as we have developed into a microwave society where we want everything faster than before and we are used to fast food, fast internet connection etc. Our needs for instant gratification are great and betting allows opportunities for us to meet that need, though not always with the desired ending. You have to condition yourself to be able to bet according to your process, to flawlessly execute, and not to be reactive in the light of your recent, short term, performances, whether down or up. Humans have a tendency to make decisions based on what has just happened to them, and where you have made a mistake or lost money your natural instinct is to ?make-up? for it and your next decision is often a reflection of this, not of your objectively planned betting strategy. Keeping the long term view in mind is key.
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He went to the Gambler’s Book Club, a Vegas institution, and bought everything he could find on horses. There were lots of “systems” promising incredible results, but to him they seemed flimsy, written by journalists and amateur handicappers. Few contained real math. 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. Buried in stacks of periodicals and manuscripts, he found what he was looking for—an academic paper titled “Searching for Positive Returns at the Track: A Multinomial Logit Model for Handicapping Horse Races.” Benter sat down to read it, and when he was done he read it again.
Most casinos obtain licenses from third parties to create their library of games. There is a growing number of software providers. Among the most popular are Microgaming, Playtech, Real Time Gaming, NetEnt,CryptoLogic and Rival. These solutions vary with how much of the casino’s operations they control. Some simply provide the casinos with the games and leave them to create their own back end processing. Others give casinos an entire suite of products, often called a “turnkey” provider.
Organized racing in North America began with the British occupation of New Amsterdam (now New York City) in 1664. Col. Richard Nicolls, commander of the British troops, established organized racing in the colonies by laying out a 2-mile (3.2-km) course on the plains of Long Island (called Newmarket after the British racecourse) and offering a silver cup to the best horses in the spring and fall seasons. From the beginning, and continuing until the Civil War, the hallmark of excellence for the American Thoroughbred was stamina, rather than speed. After the Civil War, speed became the goal and the British system the model.
Riding a season-high six-game winning streak, the Boston Bruins continue to strengthen their playoff position in the Eastern Conference by beating teams from the West. The Bruins have earned points in nine straight games and resume a five-game road trip in Sin City tonight. Sportsbooks opened the Golden Knights as -125 home favorites with a total of 5.5.
The eligibility of racers is checked the day before they are raced. Before the race, jockeys weigh out and report to the paddock for instructions by trainers and mount up, the identity of the horses having been checked. Horses and riders proceed to the track in a parade to the post for the stewards’ (race officials’) inspection and a brief warm-up gallop. Horses are almost universally started from electrically operated starting gates, the horses being walked or led into their stalls prior to the start of the race. The starter actuates the upward swing of the barrier from the stalls when all are in place. During the race, stewards and patrol judges are alert for racing violations, supplemented by a motion-picture patrol. The finish is photographed by a special camera, and, when the race is close, the picture is awaited before winners are announced. The race’s result does not become official until the jockeys have weighed in and the riders of horses that finished in the money are certified to have carried the proper weight. At weighing in, a jockey, owner, or trainer may claim foul against a horse that interfered with his mount. The judgment of the stewards may result in a horse being lowered in order of finish from first to last. The stewards declare the race official, and then payoffs are flashed on the totalizator. Postrace urine tests are made of winning horses and a sample of the field, and if results show the presence of forbidden substances, the results may be changed on payment of purses but not on bets.
Once you’re much more experienced and ready to take things to the next level then I strongly Conquering Risk: Attacking Vegas and Wall Street by Elihu D. Feustel. This is a book for advanced sports bettors and not a good read for anyone not already winning. It is heavily math, statistic and handicapping intensive. If you eventually decided on a career as an advantage player at some point down the road you’ll want to work to understand what Elihu D. Feustel shares in this book.
Hong Kong racing uses a parimutuel (also known as “totalizer”) system. Unlike odds in a Vegas sportsbook, which are set in advance and give a decisive edge to the house, parimutuel odds are updated fluidly, in proportion to how bettors wager. Winners split the pool, and the house skims a commission of about 17 percent. (After costs, the Jockey Club’s take goes to charity and the state, providing as much as a tenth of Hong Kong’s tax revenue.) To make money, Benter would have to do more than pick winners: He needed to make bets with a profit margin greater than the club’s 17 percent cut.
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. Begun in 1884 as a refuge for upper-crust Brits who wanted a stretch of England’s green and pleasant land in their subtropical colony, the club changed over time into a state gambling monopoly. Its two courses, Happy Valley and Sha Tin, were packed twice a week during a racing season that extended from September to July. Hong Kong’s population was then only about 5.5 million, but it bet more on horses than the entire U.S., reaching about $10 billion annually by the 1990s.
That 60% betting record (with the odds of -110 that is traditional for against the spread bets in football) will leave you with a profit of $160. Think about it—your $600 profit from your 6 winning bets minus the $440 you lost on losing bets leaves $160. It took you $1,100 to win $160, meaning you have to bet $6.87 to win $1 on average. So you see the small differences between a 52.4% winning rate and a 60% winning rate—inside those 7.3 percentage points lies hundreds of dollars in profit.
The affiliate marketing model used by the majority of the online gaming industry has shaped the way casinos rise to the top or fall to the bottom. Whereas some affiliates choose casinos based solely on projected profits, most use casinos’ histories to some extent to determine whether they are a trustworthy establishment to advertise. Affiliates are also the primary source of mediation for players who are facing issues with a casino.
Benter’s Las Vegas friends wouldn’t stake him at horse racing, but they would at blackjack. He took their money to Atlantic City and spent two years managing a team of card counters, brooding, and working on the racing model in his spare time. In September 1988, having amassed a few hundred thousand dollars, he returned to Hong Kong. Sure enough, Woods was still there. The Australian had hired programmers and mathematicians to develop Benter’s code and was making money. He’d moved into a penthouse flat with a spectacular view. Benter refused to speak to him.
Knowledge of the first horse race is lost in prehistory. Both four-hitch chariot and mounted (bareback) races were held in the Olympic Games of Greece over the period 700–40 bce. Horse racing, both of chariots and of mounted riders, was a well-organized public entertainment in the Roman Empire. The history of organized racing in other ancient civilizations is not very firmly established. Presumably, organized racing began in such countries as China, Persia, Arabia, and other countries of the Middle East and in North Africa, where horsemanship early became highly developed. Thence came too the Arabian, Barb, and Turk horses that contributed to the earliest European racing. Such horses became familiar to Europeans during the Crusades (11th–13th century ce), from which they brought those horses back.
Yes, there are a number of tipster services on the internet that claim to be profitable, and yes, many of these services ask unreasonable subscription fees. The reality is however, most of these services are fraudulent. Following these so called tipsters will not only leave you out of pocket after paying for their tips, but will leave you betting balance in tatters.
Return to Player (RTP) is often misunderstood or overlooked by players. The following table shows the payout percentages across all games for my selected operators. This shows how much of all bets placed for each game are paid back to players. It’s important to understand that these payout rates are calculated over a long period of time and over many many hands, providing an overall average return to player. So this is not the amount that you are guaranteed to win when you play a particular game. Take for example the days where you play and play and walk away empty handed, compared to those where luck seems to be on your side and you end up with a nice profit. The higher the RTP, the lower the house edge. There are even some games which almost lack the house edge altogether, like Betfair Casino, meaning the RTP reaches as much as 99.9% for certain games.
There are many ways to analyse the tipsters to understand which are the best bets. We provide profit figures from all bets for the sport over the past six months, profit consistency figures so you can see which of the last 6 months the tipsters have yielded a profit in and other interesting factors like profits this month or week or days in profit. The easiest way to see all this information is through the OLBG Sports Betting Tips app. Install it now from iTunes or Google Play and make sure that you consult expert tipsters before placing each bet you make.
Expected value is a term professional gamblers use on a regular basis. To explain what it means in simple terms I’ll use an example. Let’s say me and you decided to have a coin flipping contest. We flip coins and you give me $1 for each outcome of heads; I give you $1 for each outcome of tails. We could flip coins for all eternity and neither of us will ever have an advantage because on average half the time we lose $1 half the time we win $1. While there will be swings back and forth, as long as we flip the coin enough times eventually we’ll both break even. This particular bet has neutral expected value.
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For the punter it is all about the result and the buzz they get from that result when it goes their way. For the professional the process is key ? doing the right things at the right time for the right reasons. The ?buzz? comes from the feeling of knowing that they did everything possible to get the best possible result. This is a mastery approach and unlike a punter a professional trader would not feel satisfied with a winning bet if their process was flawed. I call this approach to performance a focus on ?flawless execution?.
Between races, Benter struggled to make his algorithms stay ahead of a statistical phenomenon called gambler’s ruin. It holds that if a player with limited funds keeps betting against an opponent with unlimited funds (that is, a casino, or the betting population of Hong Kong), he will eventually go broke, even if the game is fair. All lucky streaks come to an end, and losing runs are fatal.
Should you ever encounter some kind of issue when playing in the real money mode at any of our regulated US online casinos, you can basically count on the fact that you will receive the proper legal backing that you are entitled to, should you need it. Your personal details and funds are always in safe hands. This means that you never have to worry about your personal information being sold on to a third party. These casinos are protected by the very latest 128-bit Secure Socket Layer (SSL) encryption technology.
While there’s no arguing that it can be a bit boring and tedious to go over the history and company information for each casino site, it can certainly save you a lot of headaches if you’re willing to do so. Even just a quick review of things such as when a site was established, where a site is licensed, and who actually owns a site can help you identify not only great places to play, but also questionable places that you should avoid. And it always pays to do a search for player complaints about any site that you’re considering playing at because this can really help you weed out any rogue casinos.
Historically, equestrians honed their skills through games and races. Equestrian sports provided entertainment for crowds and displayed the excellent horsemanship needed in battle. Horse racing of all types evolved from impromptu competitions between riders or drivers. The various forms of competition, requiring demanding and specialized skills from both horse and rider, resulted in the systematic development of specialized breeds and equipment for each sport. The popularity of equestrian sports through the centuries has resulted in the preservation of skills that would otherwise have disappeared after horses stopped being used in combat.