|
from what i read, and in communication with parties, about serious big bettors, they solve the problem of late money unaccounted for in the mutuel pools until after the race starts, by using software that predicts the final tally of money and betting their money accordingly.
they seem to be people from wall street that migrated to the parimutuel pools for easy pickings. they are smarter than the average bear, being highly educated in statistics and probabilities, and using their knowledge where there is less competition than in other financial markets.
cx wong, a former modeler for the benter group in hong kong, was an actuary in a previous incarnation and won a medal, in the math olympics in asia. he mentions the many people involved in the endevor that mr benter organized, in his book. they have what are called "videoformers", salaried individuals, whose job it is, to videotape the races and mark on a form, his SUBJECTIVE observations of the events, putting it into a grading system that can be entered as data into the modeler's algorithm. they also employ secretaries to enter data into their computer system. also they have backstretch employees that get the inside poop of importance.
needless to say they are dealing from a significant advantage than the individuals betting on their own with only publicly available info.
|
