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Three tries in the horse ownership business

In: Exotic Betting at the Racetrack

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  • William T. Ziemba

Abstract

My first foray into racing was somewhat accidental, and at the low end. Not a good combination for any investment! Things started off beautifully, however. In September 2005, I was invited to speak to management at one of America’s great classic racetracks, Keeneland. It is a beautiful site and I have used their library for research on several occasions. I spent three hours covering key issues facing the industry in the US, including rebating, betting exchanges, and demand elasticity. I felt like the talk gave senior management plenty of food for thought, and a lively discussion ensued…

Suggested Citation

  • William T. Ziemba, 2019. "Three tries in the horse ownership business," World Scientific Book Chapters, in: Exotic Betting at the Racetrack, chapter 25, pages 413-454, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813278790_0025
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    More about this item

    Keywords

    Efficient; Inefficient; Racetrack; Betting; Market; Exotic Betting; Race; Handicapping; Strategies;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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