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.
And how much is that—exactly? During our interviews, it was the one topic that made him visibly uncomfortable. William Ziemba, a finance professor at the University of British Columbia who studied the Hong Kong syndicates, has said that a first-rate team could make $100 million in a good season. Edward Thorp (who’s still writing about gambling in his 80s) asserted in a 2017 book that Benter had a “billion-dollar worldwide business betting on horse races.” When pushed, Benter conceded that his operations have probably made close to a billion dollars overall, but that some of the money has gone to partners in Hong Kong and the U.S. “Unfortunately,” he said, “I’m not a billionaire.”
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Football may be the most popular sport in the bettingexpert community, but tennis certainly comes close. Our tennis tipsters are committed to posting the best tennis tips available, with many of our best tipsters regularly posting profitable free tennis tips. No matter what class of tennis you're looking to bet on, our tennis tipsters have you covered with free tennis tips for tennis posted daily. Whether it's Grand Slam tournaments such as Wimbledon, the French, Australian and US Opens, the Challenge circuit, our tennis tipsters find value in both the ATP and WTA tours.
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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.
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Thirty-two years after he first arrived in Hong Kong, Benter is still betting on horses at venues around the world. 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. He continues tinkering with his model. The latest change: How much does moving to a new trainer improve a horse’s performance?
To embrace uncertainty means to accept that there is uncertainty. To understand that you will never know for sure what is going to happen next and in fact that you do not need to in order to be successful and profitable. Many people are addressing uncertainty and randomness in their betting by moving towards sports trading approaches, backing and laying, trading in and out, taking profits at pre-chosen prices and not just waiting for the final outcome.

What sporting events can you follow at Hot Tips? Football is the most popular sport in the world. The number of football tips posted each day reflects this. Our tipsters follow the most famous of football leagues. Leagues such as the Premier League and Champions League. But you will also find tips for a wide number of other leagues and tournaments.


Benter was struck by the similarities between Kelly’s hypothetical tip wire and his own prediction-generating software. They amounted to the same thing: a private system of odds that was slightly more accurate than the public odds. To simplify, imagine that the gambling public can bet on a given horse at a payout of 4 to 1. Benter’s model might show that the horse is more likely to win than those odds suggest—say, a chance of one in three. That means Benter can put less at risk and get the same return; a seemingly small edge can turn into a big profit. And the impact of bad luck can be diminished by betting thousands and thousands of times. Kelly’s equations, applied to the scale of betting made possible by computer modeling, seemed to guarantee success.
In America, interest in horse racing exploded after the Civil War. By 1890 there were 314 racetracks, operating in nearly every state. Incensed, antigambling coalitions pushed through legislation in most parts of the country, and by 1908 only 25 racetracks remained in operation. Finally, even New York racetracks were shut down in 1911 when state legislation outlawed quoting of odds, soliciting bets, and recording bets in a fixed place. In response, many owners, trainers, and jockeys shifted their operations to Europe. When New York racetracks reopened in 1913, most of the earlier African American jockeys never returned.
Professional sports bettors have to worry about variance more than any other type of gambler. Working against the forces of variance means managing your bankroll over the course of the season to avoid the negative possibilities that could totally empty your wagering account. Professional sports bettors have the time and resources necessary to calculate these variances, and there are even a few pieces of software out there that can help you figure out your ideal bet in the face of negative variance. But the bottom line is that professional sports bettors would dream of having a 55% winning record, simply because it guarantees you’re beating the house.
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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.[8]
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