Quote:
Originally Posted by Half Smoke
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pretty interesting stuff - their analysis included data from almost 6 million races
they also discuss exotic betting
although, I must admit my eyes started to glaze over after awhile
might want to jump to the conclusion
http://citeseerx.ist.psu.edu/viewdoc...=rep1&type=pdf
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Looking at the data points on page 7, it appears that ROI betting in the UK, is better than the US at odds under 10-1. Could that be from fixed odds/bookmakers' odds? Australia which has access to both pari-mutuel and fixed looks worse than the US at above 5-1. With the huge betting /race in Hong Kong, it would have been interesting to see how they stack up.
No data breakouts for field sizes either. My WAG is that the betting market has probably improved on hit rates with a field of 5, versus a field size of 8-10. But the ROI, may have declined slightly.