Quote:
Originally Posted by thaskalos
No wonder there are no visible role models to attract any new horseplayers to our game. The game's winningest players operate under virtual anonymity...without realizing the obligation that they carry to provide adequate advertising in order to keep the game alive. It seems that the saying is right: The only ones who teach are the ones who can't do.  |
Usually I agree with most of what you post about gambling, but so many falso assumptions in this post, had to reply. First, most people I know making serious money from gambling do everything possible to stay below the radar, for, I think obvious reasons. If you're talking only about these guys who have achieved public recognition, that was only after many years of huge profits and they did everything possible to avoid the limelight. First and foremost, they don't want to get cut off from betting, but, at that level, they don't want to attract mob interest. Anyone who's seen the Aaron Sorkin film 'Molly's Game' knows what I mean.
As far as teaching what they do, it should be clear that it's all about the math. There's no mystery about the tools they're using. And contrary to your claim, many of them teach. Benter has lectured on his methods and universities worldwide -- one of them is posted in this thread -- and he has coached PdD candidates at Cambridge and elsewhere. Ed Thorp has written books and lectured on his work in blackjack and the hedge fund world. Ken Uston was teaching throughout his life. But, in the case of the horseracing models, at least a background of college-level math is required to even get in the game.
And even for these guys who became successful, it was far from a walk in the park. If you listened to the Ziemba podcast, he discusses how difficult it is to succeed now, especially given the increased competition, and says it would require an investment of ca. $1,000,000 and a year of research just to get an operation off the ground -- almost exactly what Benter described to me in the early aughts, when he was helping to set up teams in the U.S., but only as a consultant.
So, it's possible that some members of the general public can benefit from learning from these gamblers, but only a very small number.
