Good article on Computerized Robotic Wagering

[thespaah]

From bloodhorse.com
This article centered on the CRW platforms also covers a number of issues..I found it to be a pretty good read. Informative.....
Enjoy
http://www.bloodhorse.com/horse-raci...uts?source=rss

[VigorsTheGrey]

Many weeks ago I posted a post saying that I thought the successful horseplayer of the future would most likely be a binar, trinar, or even a quadnar entity...I sure a lot of you thought I was nuts then...but this article demonstrates that my instincts were not that far-fetched.....It appears that these teams of players are at least quadnar, quintnar, even sexnar entities!

My original idea came from the Star Trek episode featuring the "Binars", a race of aliens who performed QA work always IN TEAMS....

[betovernetcapper]

I find this stuff fascinating. From what I've read they do this a a lot in Australia and my guess would be Hong Kong to a lesser degree. I'd love to spend an hour or so just watching how this works in terms of procedure.

[Fox]

Last paragraph says Laurel is now updating odds every 20 seconds as post time nears. That sounds nice. I don't play Laurel much so hadn't noticed, but I hope they'll be able to share this super advanced space age technology with other circuits.

[therussmeister]

Originally Posted by Fox

Last paragraph says Laurel is now updating odds every 20 seconds as post time nears. That sounds nice. I don't play Laurel much so hadn't noticed, but I hope they'll be able to share this super advanced space age technology with other circuits.

And Canterbury is going to update every ten seconds.

[P Matties Jr]

Originally Posted by betovernetcapper

I find this stuff fascinating. From what I've read they do this a a lot in Australia and my guess would be Hong Kong to a lesser degree. I'd love to spend an hour or so just watching how this works in terms of procedure.

Hong Kong is the capital of CRW.

[P Matties Jr]

Originally Posted by VigorsTheGrey

Many weeks ago I posted a post saying that I thought the successful horseplayer of the future would most likely be a binar, trinar, or even a quadnar entity...I sure a lot of you thought I was nuts then...but this article demonstrates that my instincts were not that far-fetched.....It appears that these teams of players are at least quadnar, quintnar, even sexnar entities!

My original idea came from the Star Trek episode featuring the "Binars", a race of aliens who performed QA work always IN TEAMS....

I think humans will always out handicap the machines, but we can't compete on the betting end (not close).

[CincyHorseplayer]

Originally Posted by P Matties Jr

I think humans will always out handicap the machines, but we can't compete on the betting end (not close).

Me too. Technology allows us to take on more volume efficiently but our input allows us to perform better IMO. The sheer volume of bets and $$$ will always outperform anybody. Finding balance between volume and performance is the sweet spot. Just my take.

[Arapola]

Unfortunately, the inevitable end would be Whales eating other Whales after all the bait fish (me) are gone.

[AlsoEligible]

Dick Powell, of Racing and Gaming Services, which caters to CRW bettors, said large rebates on CRW handle make the business model of the CRW player possible. He noted that many CRW players try to break even on their wagering, and then make their money on rebates. Linnell's study indicates CRW players are doing better than breaking-even on their wagers.

They had a positive ROI in March, but Powell's not wrong. CRW models are based entirely around breaking even on wagers and making profit on rebates. I'd be interested to see the results of a longer study (say a year) to see if Linnell's findings about payouts hold true over the long term.

Linnell said he knows of one smaller ADW site that has added some robotic wagering options for all of its players but the leading sites have not added the option.

Anyone know specifically what this means? Not sure if he means providing the same data and algorithms that CRW teams use to find value in pools, or just the ability to make high volumes of wagers. The former could be really useful, but the latter doesn't matter much unless you have enough funds to support high volume wagering. Would like to learn more about those options.

Really informative article, thanks for sharing.

[AlsoEligible]

Originally Posted by Fox

Last paragraph says Laurel is now updating odds every 20 seconds as post time nears. That sounds nice. I don't play Laurel much so hadn't noticed, but I hope they'll be able to share this super advanced space age technology with other circuits.

It's coming. NYRA started doing this last year, as well as Kentucky Downs. Believe Woodbine is too, and probably a couple others I'm forgetting about.

More frequent updates will help curb drastic changes close to post, but there's always going to be some shifting after the pools close and when final odds are displayed. It just takes time to collect the late money from every wagering outlet in the world (including huge sums of CRW money), calculate the final odds, and update the odds on websites, infield boards, and TV graphics.

The only ways around this are to stop betting earlier before the horses break from the gate, or hope that the industry can figure out how to communicate faster than the speed of light. Neither seems like a very viable option.

[zerosky]

Originally Posted by Arapola

Unfortunately, the inevitable end would be Whales eating other Whales after all the bait fish (me) are gone.

On the exchanges its akin to wall street its the battle of the bots.
all the juice is being squeezed out.

[Ted Craven]

Originally Posted by AlsoEligible

Anyone know specifically what this means? Not sure if he means providing the same data and algorithms that CRW teams use to find value in pools, or just the ability to make high volumes of wagers. The former could be really useful, but the latter doesn't matter much unless you have enough funds to support high volume wagering. Would like to learn more about those options.

He perhaps refers to AmWager and ability to upload a file of wager specifications to their wager queue, e.g. several hundred lines in a CSV file specifying wagers, including conditions: fairly nuanced dutches, hedges, fine-grained horizontal wagers (though you need your own software to formulate such wagers and create the file for upload).

Other ADWs also have such features, though not sure how nuanced they get. I don't see file upload ability as benefiting only those with massive bankrolls - a $200 Pick 4 (what to speak a $500 Pick6), if structured in a detailed fashion, may have 50 or 100 combos. You really don't want to be keying that kind of input close to post-time (ask me how I know ...).

Not sure the intended meaning of 'finding value in pools' (i.e. could mean different things) - but AmWager has no such intelligence I can detect. However, they have a pretty nice real-time dutching tool, and quasi-hedging features. So, if you do find value by your own analytics, you can act on it in some useful ways.

If you're not yet hooked up with AmWager (and with not bad rebates for many tracks for the smaller player), just shoot me a PM.

Ted

[highnote]

At the bottom of the article Barry Meadow posted in the comment section:

BarryMeadow • 10 days ago
The problem with the CRW bettors is they perform better (before any rebates) than most other players. Using the logic of Curtis Linnell, racetracks would be best served by getting rid of all players who win--whether on-track, at simulcast centers, at racebooks, or at the local sports bar. Then there would be more money available for the other players.
A better solution would be to drastically cut takeout so that the best players (who would no longer need rebates) would compete equally with the lesser players (who would last longer and improve churn because of the lowered takeout rates).
Nah, too obvious.

[toddbowker]

Originally Posted by Ted Craven

He perhaps refers to AmWager and ability to upload a file of wager specifications to their wager queue, e.g. several hundred lines in a CSV file specifying wagers, including conditions: fairly nuanced dutches, hedges, fine-grained horizontal wagers (though you need your own software to formulate such wagers and create the file for upload).

Nearly all ADW's have that feature.

We had the function of bet file uploads at AmericaTab back in the early 2000's, and don't think we were even the first to market with it.