Finally, Benter sent an anonymous letter to the Jockey Club’s directors explaining his intentions. But the organization never shared it with the public. (Club spokeswoman Samantha Sui told Bloomberg Businessweek, “We are not in a position to disclose or comment on matters related to specific customers due to privacy and confidentiality concerns.”) At the time, head of betting Henry Chan told the Morning Post that there was no way of knowing who the ticket holder was. “Although this is bad luck for one winner,” he said, “it means there will be a lot of winners through the charities.”
The paper argued that a horse’s success or failure was the result of factors that could be quantified probabilistically. Take variables—straight-line speed, size, winning record, the skill of the jockey—weight them, and presto! Out comes a prediction of the horse’s chances. More variables, better variables, and finer weightings improve the predictions. The authors weren’t sure it was possible to make money using the strategy and, being mostly interested in statistical models, didn’t try hard to find out. “There appears to be room for some optimism,” they concluded.

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