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. More variables, better variables, and finer weightings improve the predictions. 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. The paper argued that a horse’s success or failure was the result of factors that could be quantified probabilistically. He's still tweaking his algorithm now and still making money from horse racing betting.īenter 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.īuried 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. Well Bill Benter is a man who cracked the horse racing code back in the 1980's and made hundreds of millions of dollars. The one solution to bring in more horse racing winners then losers. Every aspiring horse racing punter dreams of the perfect wining formula or system.
