The Invention of the Place and Show Betting System

William T Ziemba

Chapter 8 in The Adventures of a Modern Renaissance Academic in Investing and Gambling, 2017, pp 83-93 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The place and show betting system was based on academic papers in Management Science in 1981 and 1985 and popularized through the books Beat the Racetrack and Betting at the Racetrack in 1984–1986, Efficiency of Racetrack Betting Markets (1994, 2008), The Sports and Lotto Handbook (2008) and my 2017 book Exotic Betting at the Racetrack. Using this system people could win at the racetrack not knowing anything about the horses. It was purely based on mispricings which in finance is called weak market efficiency. If prices are not fair then that is referred to as a weak market inefficiency…

Keywords: Financial History; Risk Management; Investment Strategies; Mean Reversion; Risk Arbitrage; Management of Assets (search for similar items in EconPapers)
JEL-codes: G11 (search for similar items in EconPapers)
Date: 2017
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