In this video he presents the math involved , and here is his academic paper on the system. Well-written BBG story. Coincidentally I also have a view of Happy Valley racecourse from my apartment and it's a good night out there even for those not seriously interested in the nags. Bentner, Woods and Moore's success was aspirational to many of us in the mid/late nineties (who didn't realise just how much effort and resources were involved)
Okay but, there is only one contract, say crude oil, the parameters of which to study. Unlike in a horse race where you've got 10 or twenty times the parameters to ponder at a time
From the article- Thanks to the rebates, it’s “impossible to lose”. The same thing with HFTheft in the markets. Front running + rebates = impossible to lose. Note Virtu’s ONE LOSING DAY in the companies decade plus existence (and that minor loss was due human coding error).
So, 2/3 ET'ers think trading is not gambling ? I believe that is what brings much problems. Just asking the question supposes there is at least some strong commonalities.
I have a couple dozen of bucks left in my Betfair "war chest", down from the initial $300, years ago. Can anybody point me to a good book on football and / or horse race betting ? I promise you will be remembered when I hit it .