137: Dr. William Ziemba – The Horse Bettor Exploiting Anomalies in Financial Markets
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How to Make Money in Horse Racing and NFL
In the horse racing, you have to pay like 10% or 15% even with the rebate. It's a lot of fun and the teams have been able to be successful in the win but it's work. So these teams to be successful usually require about a million dollars worth of research and a couple of years or longer to get going. In Hong Kong, they have mostly Australian geldings so it's a kind of a homogeneous group of the same horses running all the time. And the Hong Kong Jack Club is very sophisticated. It keeps a lot of records and a lot of information.
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