Quote:
Originally Posted by o_crunk
This is prolly the best comment in the thread. Some of you are telling on yourselves about your own working knowledge about how “AI” works in horse racing. Might want to let an AI loose on all the posts in the history of this board and I would be happy to have my machines bet against it.
Bottom line is you will spend the majority of your time data cleaning more than any other task. If you think the data that’s freely available (or even exorbitantly priced available) and that is going to be good enough for an “AI” to bet, you are sorely misinformed.
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I would agree with the bolded part. Cleaning the data prior to analysis is huge.
Not so sure about the sentence after that.
The key would be making some very astute observations about horses and races very few players have ever thought of before.
And from there creating custom features from those observations, adding those features to the data - and quietly using them.
I've personally seen it done.
Horseracing pools are different than financial markets in that the more money on a horse in the parimutuel pools the lower the payoff.
Whereas increased money flowing to the shares of XYZ Corp results in a higher share price (at least until big money cashes out.)
Also the total addressable market for horseracing software/algorithms is the tiniest imaginable fraction vs. that of currency trading (Forex), and world stock markets (NYSE, Nasdaq, S&P 500, Stoxx, etc.)
I think that's the real reason why big data innovation hasn't found its way to horse racing.
I also think both CJ and Ralph said it much better than I ever could several pages ago.
-jp
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