Bill Walters used to be a professional poker player before using his skills as a professional sports punter instead. Over nearly four decades, Walters has bet more money than anyone else in history and continued a winning streak that has earned him hundreds of millions of dollars. He’s living proof that sport betting is a game of skill. Like poker, Walters explains that winning sports punters have to analyze information then calculate risk and potential profits. In an interview with CBS News, Walters described his biggest and most audacious bet of all time. The New Orleans Saints were playing the Indianapolis Colts at the Super Bowl in 2010 and the consensus was that New Orleans were the underdogs. Walters analyzed all the information he had and discovered that it actually favored New Orleans as the most likely winners. He looked at the odds, calculated the risk and potential profit then decided to bet big. Walters bet $3.5 million on the supposed underdogs and New Orleans didn’t let him down. They defeated the colts 31–17 to win their first ever Super Bowl.
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The beginning of the modern era of racing is generally considered to have been the inauguration of the English classic races: the St. Leger in 1776, the Oaks in 1779, and the Derby in 1780. All were dashes for three-year-olds. To these races were later added the Two Thousand Guineas in 1809 and the One Thousand Guineas in 1814. (The St. Leger, Derby, and Two Thousand Guineas have come to constitute the British Triple Crown of horse racing.) During the 19th century, races of the English classic pattern—dashes for three-year-olds carrying level weights—spread all over the world. The French classics are the Prix du Jockey Club (1836), the Grand Prix du Paris (1863), and the Prix de l’Arc de Triomphe (1920).
Horse racing in one form or another has been a part of Chinese culture for millennia. Horse racing was a popular pastime for the aristocracy at least by the Zhou Dynasty - 4th century B.C. General Tian Ji's strategem for a horse race remains perhaps the best known story about horse racing in that period. In the 18th and 19th centuries, horse racing and equestrian sports in China was dominated by Mongol influences.
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In France the first documented horse race was held in 1651 as the result of a wager between two noblemen. During the reign of Louis XIV (1643–1715), racing based on gambling was prevalent. Louis XVI (reigned 1774–93) organized a jockey club and established rules of racing by royal decree that included requiring certificates of origin for horses and imposing extra weight on foreign horses.
Twice a week, on race days, Benter would sit at the computer and Woods would study the racing form. Early on, the betting program Benter had written spat out bizarre predictions, and Woods, with his yearlong head start studying the Hong Kong tracks, would correct them. They used a telephone account at the Jockey Club to call in their bets and watched the races on TV. When they won, there were satisfied smiles only. They were professionals; cheering and hooting were for rubes.
At many horse races, there is a gambling station, where gamblers can stake money on a horse. Gambling on horses is prohibited at some tracks; Springdale Race Course, home of the nationally renowned Toronto-Dominion Bank (TD Bank) Carolina Cup and Colonial Cup Steeplechase in Camden, South Carolina, is known as one of the tracks where betting is illegal, due to a 1951 law. Where gambling is allowed, most tracks offer parimutuel betting where gamblers' money is pooled and shared proportionally among the winners once a deduction is made from the pool. In some countries, such as the UK, Ireland, and Australia, an alternative and more popular facility is provided by bookmakers who effectively make a market in odds. This allows the gambler to 'lock in' odds on a horse at a particular time (known as 'taking the price' in the UK). Parimutuel gambling on races also provides not only purse money to participants but considerable tax revenue, with over $100 billion wagered annually in 53 countries.[75]
Horse racing in India is over 200 years old, making India quite possibly the oldest racing jurisdiction in Asia where racing was conducted under rules.[citation needed] India's first racecourse was set up in Madras in 1777. Today India has a very well established racing and breeding industry, and the sport is conducted on nine racetracks by seven racing authorities.
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Sports betting appeals to the smart bettor because it is not a game with a fixed house edge where the casinos are raking off fixed percentage. Sports betting requires more skill than luck similar to live poker. You won’t win every time but the skilled handicapper has a huge advantage over the recreational bettor. Before going into more detail you need to understand how sports betting works. We will take a look at football where a point spread is involved.
Benter faced an additional and more peculiar anxiety. A month before the handover, his team won a huge Triple Trio jackpot. They were in the middle of an epic winning season, up more than $50 million. The Jockey Club normally put Triple Trio winners in front of the TV cameras to show how, for example, a night watchman had changed his life with a single bet. This time, nobody wanted to tout that the winner was an American algorithm.
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In most horse races, entry is restricted to certain breeds; that is, the horse must have a sire (father) and a dam (mother) who are studbook-approved individuals of whatever breed is racing.[citation needed] For example, in a normal harness race, the horse's sire and dam must both be pure Standardbreds. The exception to this is in Quarter Horse racing, where an Appendix Quarter Horse may be considered eligible to race against (standard) Quarter Horses. The designation of "Appendix" refers to the addendum section, or Appendix, of the Official Quarter Horse registry. An Appendix Quarter Horse is a horse that has either one Quarter Horse parent and one parent of any other eligible breed (such as Thoroughbred, the most common Appendix cross), two parents that are registered Appendix Quarter Horses, or one parent that is a Quarter Horse and one parent that is an Appendix Quarter Horse. AQHA also issues a "Racing Register of Merit," which allows a horse to race on Quarter Horse tracks, but not be considered a Quarter Horse for breeding purposes (unless other requirements are met).[18]
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