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The Dr. Z Betting System in England

In: Efficiency Of Racetrack Betting Markets

Author

Listed:
  • William T. Ziemba

    (Management Science Division, Faculiy of Commerce, University of British Columbia, Vancouver BC, Canada V6T 1Z2, Canada)

  • Donald B. Hausch

    (School of Business, University of Wisconsin, Madison, Wisconsin 53706, Canada)

Abstract

The betting strategy proposed in Hausch, Ziemba and Rubinstein (1981) and Ziemba and Hausch (1984, 1987) has had considerable some success in North American place and show pools. The place pool is England is very different. This paper applies a similar strategy with appropriate modifications for places bet at British racetracks. The system or minor modifications also applies in a number of other countries such as Singapore with similar betting rules. The system appears to provide positive expectation wagers. However, with the higher track take it is not known how often profitable wagers will exist or what the long run performance might be.

Suggested Citation

  • William T. Ziemba & Donald B. Hausch, 2008. "The Dr. Z Betting System in England," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 56, pages 567-574, World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789812819192_0056
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    Cited by:

    1. Luo, Yong & Zhu, Bo & Tang, Yong, 2014. "Simulated annealing algorithm for optimal capital growth," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 408(C), pages 10-18.
    2. Bin Li & Steven C. H. Hoi, 2012. "Online Portfolio Selection: A Survey," Papers 1212.2129, arXiv.org, revised May 2013.
    3. Luo Yong & Zhu Bo & Tang Yong, 2015. "Dynamic optimal capital growth of diversified investment," Journal of Applied Statistics, Taylor & Francis Journals, vol. 42(3), pages 577-588, March.

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