Wagering analysis by Woodbine

[banacek]

Interesting article on wager analysis by Woodbine:

https://www.thoroughbredracing.com/articles/numbers-woodbine-wagering-analysis-shows-theres-value-data

[ReplayRandall]

Interesting article on wager analysis by Woodbine:

https://www.thoroughbredracing.com/articles/numbers-woodbine-wagering-analysis-shows-theres-value-data
Nice find, Banacek. Impressive presentation by Steve Koch dealing with Field Size and Per-Race Wagering Determinants. Just the visual chart presentation to get everyone immediately focused and immersed, makes a huge difference in mental absorption of subject matter:
https://ua-rtip.org/symposium/sites/ua-rtip.org.symposium/files/KOCH_Symposium_Field%20Size_Dec2014.pdf

[RXB]

Good stuff; thanks for posting. To me, the two most interesting quotes from Koch:

Restricted races can be a red herring in the industry. Many swear by these races as they generate fat, full fields and handle okay. But, what many don't know is that once you statistically control for field size and other factors, these races actually may be harming your product's general position in the global marketplace.

I've found that data is hoarded in our industry. We don't seem to share well with each other and this is unfortunate. Too many times, I have been working with an academic or student wanting to analyze some industry element and they have struggled due to poor or unattainable data. I know the data exists and where it exists and who controls it. That’s always very frustrating.

[whodoyoulike]

Thanks Banacek for the article link and Replay Randall for the PDF link.

In the PDF, the Average & Median Win Odds Per Field Size chart is something I've been suspecting for some time now.

And, the bullet point of:

Can Tracks Partner On Horse Supply?

Should be strongly considered.

[appistappis]

they run on poly, who cares.

[davew]

I really like this, I wonder if Aqueduct has found similar...

https://www.thoroughbredracing.com/sites/default/files/Steve%20Koch%20presentation.jpg


oops, I don't see the 3 and 2 horse race values...

[QTwithTQ]

:D

very interesting article on what Woodbine is doing and great presentation by Steve at the AZ symposium. He's stepping out and sharing this information with the world, hopefully some of the powers that be take note and listen.

[acorn54]

you would have to be some kind of illiterate not to know that field size and wager volume are directly proportional.
HANA has been using field size FOR YEARS as a factor in compiling its ratings of tracks for bettors. it is just the old adage, you can lead the racing authorities to the facts but you can't make them listen and act on the facts.