Horse Racing

My dad did not gamble, but he was interested in the mathematics and psychology of horse racing. He figured that since people did not pick their horses rationally, there should be some way of exploiting that. He kept records and discovered that the fifth rated horse on average did better than the odds. He also discovered this effect disappeared after a couple of years, presumably because others noticed too.

~ Roedy (1948-02-04 age:69)