Examining Agency Conflict in Horse Racing

Market effiency in Finnish harness horse racing

The paper analyzes the efficiency of the betting markets in Finnish harness horse racing. We first present the basic properties of the betting markets. We focus on the organization structures, the market efficiency, and the well-known inefficiencies. Next we review different methods to test the market efficiency. An alternative method proposed based on actual and on theoretical net returns is i...

Market Efficiency in Finnish Harness Horse Racing*

This paper analyzes the efficiency of betting markets in harness horse racing during the transition from on-track betting to Internet gambling. In order to test the market efficiency hypotheses, an alternative testing approach to other grouping methods is introduced. The betting market efficiency is tested by using a database accumulated from the Finnish harness horse racing. The results imply ...

On generalized Tian Ji's horse racing strategy

Tian Ji’s horse racing strategy, a famous Chinese legend, constitutes a promising concept to be applied to important issues in today’s competitive environment; this strategy is elaborated on and analyzed by examining the general case. The mathematical formulation concerning the calculation of winning, drawing or losing combinations and probabilities is presented to illustrate the interesting in...

Horse Racing Prediction Using Artificial Neural Networks

Artificial Neural Networks (ANNs) have been applied to predict many complex problems. In this paper ANNs are applied to horse racing prediction. We employed Back-Propagation, Back-Propagation with Momentum, QuasiNewton, Levenberg-Marquardt and Conjugate Gradient Descent learning algorithms for real horse racing data and the performances of five supervised NN algorithms were analyzed. Data colle...

Economic Impact Of The Horse Racing Industry