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Andrew Beyer is the author of four books on racing and was The Washington Post 's horse racing columnist [2] from 1978 to his retirement in 2016. He has been honored with the Walter Haight Award for career excellence by the National Turf Writers and Broadcasters and with a place on the Joe Hirsch Honor Roll at the National Museum of Racing and ...
The odds quoted for a particular event may be fixed but are more likely to fluctuate in order to take account of the size of wagers placed by the bettors in the run-up to the actual event (e.g. a horse race). This article explains the mathematics of making a book in the (simpler) case of the former event.
Betting on horse racing or horse betting [1] commonly occurs at many horse races. Modern horse betting started in Great Britain in the early 1600s during the reign of King James I. [2] [3] Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks.
: An abbreviation for a bay horse as it appears in race books, pedigrees and stud books. Back: To bet on a horse. [2] [6] Backed in: A horse whose odds have shortened. [2] [6] Backed off the map: A horse which has been heavily supported resulting in a substantial decrease in odds. [8] Back up: To race a horse soon after its latest engagement ...
William Benter (born 1957) is an American professional gambler and philanthropist who focuses on horse betting.Benter earned nearly $1 billion through the development of one of the most successful analysis computer software programs in the horse racing market and is considered to be the most successful gambler of all time.
Fixed-odds betting is a form of gambling where individuals place bets on the outcome of an event, such as sports matches or horse races, at predetermined odds. In fixed-odds betting, the odds are fixed and determined at the time of placing the bet. These odds reflect the likelihood of a particular outcome occurring.
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Woods retired from professional blackjack in 1982 and focused on horse betting in Hong Kong due to the small pool of horses. There, he met Bob Moore and Bill Benter. Benter and Woods worked on a computer model "based on mathematics, to choose race winners based on formulaic consideration of track, form, weather and other factors". [8]
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