Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board

Go Back   Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board > Thoroughbred Horse Racing Discussion > Handicapper's Corner


Reply
 
Thread Tools Rating: Thread Rating: 3 votes, 5.00 average.
Old 04-01-2015, 04:43 PM   #61
traynor
Registered User
 
traynor's Avatar
 
Join Date: Jan 2005
Posts: 6,626
Quote:
Originally Posted by cj
I guess it would depend on the definition of "markedly better." Even if we had the perfect figures which measured speed for all horses at all points with absolute precision and were comparable across racetracks, distances, and surfaces, speed figures still would only be part of the puzzle. Speed figures measure past races, not future ones.
Exactly. There is (far) more to the puzzle than absolute precision in measuring past events. That precision is only useful (for betting purposes) to the degree it tells you what will/may/is likely to happen in the future.
traynor is offline   Reply With Quote Reply
Old 04-01-2015, 04:58 PM   #62
traynor
Registered User
 
traynor's Avatar
 
Join Date: Jan 2005
Posts: 6,626
Quote:
Originally Posted by Capper Al
My speed figs can do at least as well as BRIS, but BRIS rr and cr reign supreme.
There may be things you are not considering. For example, explicitly defining a particular speed (or pace) scenario, and parsing a big block of races to see what happens (and what does NOT happen) enough times to make some kind of value judgement about applying that particular scenario as part of a wagering decision in an individual race. Lots of things that look good in small samples can (and usually will) cause disastrous results if considered "what really happens in the real world" and applied to (many) future races.

It is not so much the accuracy (of speed and pace figures) as the conceptual underpinnings (especially of "pace scenarios") that lead one astray. The easiest (and least humiliating) way to discover that is to apply your figures to a large block of races and compare the actual results with the expected results.

That is not advocacy of parsing huge databases for every aspect of decision making. It is advocacy of actively applying what one believes to be true on a large enough set of races to determine if it is anything more than a set of anomalies--slight wobbles from a baseline that only look good when viewed in isolation. As in, "I don't understand. It worked really well yesterday (last week, month, year)."
traynor is offline   Reply With Quote Reply
Old 04-01-2015, 05:02 PM   #63
DeltaLover
Registered user
 
DeltaLover's Avatar
 
Join Date: Oct 2008
Location: FALIRIKON DELTA
Posts: 4,439
Quote:
Originally Posted by traynor
There may be things you are not considering. For example, explicitly defining a particular speed (or pace) scenario, and parsing a big block of races to see what happens (and what does NOT happen) enough times to make some kind of value judgement about applying that particular scenario as part of a wagering decision in an individual race. Lots of things that look good in small samples can (and usually will) cause disastrous results if considered "what really happens in the real world" and applied to (many) future races.

It is not so much the accuracy (of speed and pace figures) as the conceptual underpinnings (especially of "pace scenarios") that lead one astray. The easiest (and least humiliating) way to discover that is to apply your figures to a large block of races and compare the actual results with the expected results.



Nominated for post of the week
__________________
whereof one cannot speak thereof one must be silent
Ludwig Wittgenstein
DeltaLover is offline   Reply With Quote Reply
Old 04-01-2015, 06:55 PM   #64
Cratos
Registered User
 
Join Date: Jan 2004
Location: The Big Apple
Posts: 4,252
Quote:
Originally Posted by traynor
Exactly. There is (far) more to the puzzle than absolute precision in measuring past events. That precision is only useful (for betting purposes) to the degree it tells you what will/may/is likely to happen in the future.
One method is parametric modeling, but this method is not inexpensive and offers some math and statistics complexes that are not easily understood by everyone.

However when properly applied the results are very profitable.
__________________
Independent thinking, emotional stability, and a keen understanding of both human and institutional behavior are vital to long-term investment success – My hero, Warren Edward Buffett

"Science is correct; even if you don't believe it" - Neil deGrasse Tyson
Cratos is offline   Reply With Quote Reply
Reply





Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

» Advertisement
» Current Polls
Wh deserves to be the favorite? (last 4 figures)
Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 08:20 PM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Copyright 1999 - 2023 -- PaceAdvantage.Com -- All Rights Reserved
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program
designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.