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A day at the races, with its colorful variety and fast-paced action, appeals to people from all walks of life. Not surprisingly, the idea of going home with a few more dollars than when one arrived is part of horseracing's charm. In this entertaining but substantive volume, two distinguished economists, who happen to be horseracing buffs, outline a tested strategy for placing bets that will increase the reader's chances of a happy outcome at the track.
The authors are the first to point out that getting rich at the racetrack is unlikely. They do maintain, however, that with attention to their systematic approach, the racing fan can achieve the best possible chance at winning. In the process, the reader learns some of the most important measurement techniques in the social sciences, as well as the basic methods of market analysis.
List of contents
An Introduction: Horse Racing and the Betting Scene
Why You Usually Lose at the Racetrack
Betting Strategies: The Popular Literature
Why Do People Bet?
How Do We Assess Racetrack Betting Evidence?
The Evidence from Win, Place, and Show Betting
The Evidence from "Exotic" Bets
Can You Win at the Racetrack?
Glossary of Terms
Index
About the author
PETER ASCH is the late Professor of Economics at Rutgers University.
RICHARD E. QUANDT is Professor of Economics at Princeton University.
