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That failure, however, led to a second period of his career as lucrative as Hong Kong was. He worked with one of his baseball backers to start betting on U.S. horse racing. Parimutuel tracks are scattered around the country, and by the late 1990s it became easier to amass data on a lot of them. The U.S. business took off just as competition began eroding profits in Hong Kong. “There is a golden age for a particular market,” he said, fiddling with a stack of decommissioned casino chips. “When there aren’t many computer players, the guy with the best system can have a huge advantage.”
Benter continued to operate his in-person betting scheme through the turn of the millennium, with his model expanding to track more than 120 factors per horse, but the logistics were proving a grind. He felt disconnected from his gambler friends in Wan Chai—a nocturnal clique of geeks and rogues. He had started mixing with a more professional crowd, adopting their dress code of smart suits and ties, and he’d taken a more active role in the local Rotary Club chapter. Benter embraced its motto of “Service Above Self,” giving millions of dollars anonymously and visiting impoverished schools in China and refugee camps in Pakistan. For the first time, he thought seriously about quitting and moving back to the U.S. If it all has to end, he thought, I’ve had an incredible run.
For a middle class softy the inside of a bookie’s can be an alien environment. Never mind the primary colours, bright lighting and air of stale sweat; seeing familiar faces from the neighbourhood hunched over fixed odds machines – the milch cow of high street bookmakers now that much of the action has gone online – was hardly uplifting. Especially as I recognised one of them as the same young man who a week earlier had begged a fiver off me on the street with a brilliantly convincing sob story.
In 2016, Susquehanna International Group LLP, an American quantitative trading company, started an Ireland-based operation called Nellie Analytics Inc., targeting basketball, American football, soccer, and tennis. Phoenix, a proprietary sports-betting company with headquarters in Malta and data-mining operations in the Philippines, won a £9 million ($13 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. (RIT sold its stake in 2016 to a private buyer, quadrupling its money.) What isn’t widely known is that Phoenix was founded by former employees of Woods, including his protégé Paul Longmuir.
First of all, the potential downside with this approach to sports betting is that bookmakers change their terms and conditions. If you employ this method, ensure that you check the terms and conditions first. People have lost money over time when the bookmaker has changed their terms after somebody has started to bonus bag the offer. Nobody wants that to happen.
In the most prestigious races, horses are generally allocated the same weight to carry for fairness, with allowances given to younger horses and female horses running against males. These races are called conditions races and offer the biggest purses. There is another category of races called handicap races where each horse is assigned a different weight to carry based on its ability. Beside the weight they carry, horses' performance can also be influenced by position relative to the inside barrier (post position), gender, jockey, and training.