An Empirical Cross-validation of Alternative Classification Strategies Applied to Harness Racing Data for Win Bets

Larry H. Ludlow
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Larry H. Ludlow: Boston College, USA

Chapter 20 in Efficiency of Racetrack Betting Markets, 2008, pp 199-212 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper presents the results of a two year cross-validation of a fundamental handicapping system. Harness race performance data from a single season's entire racing meet were subjected to a discriminant analysis and classification criteria were developed. The Year 1 discriminant function and classification criteria were applied to Year 2 data. The classification techniques are evaluated in terms of percent correct classification and return on investment.

Keywords: Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance (search for similar items in EconPapers)
Date: 2008
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