Bill Benter is an American gambler who is renowned for his remarkable success at horse race tracks. He is credited with revolutionizing betting by being one of the pioneers of computer aided gambling. The Hong Kong based gambler reportedly earns $10 million every year from his bets on racing horses.
Bill Benter’s Rise to Prominence:
Benter was born to middle class parents in Pittsburgh, Pennsylvania. He got into gambling early and as a young man, he came across the book “Beat the Dealer.” The book taught him card counting and other techniques to win at blackjack. Armed with this information he headed to Vegas and made large amounts of money in casinos. While in Vegas, he also met Alan Woods, a former actuary who was also a prolific card counter. The two were so successful that they were soon banned from most casinos in Vegas.
They ventured on to horseracing planning to use a variation of the card counting technique they used in blackjack, to predict race winners. Armed with a $150,000 bankroll, they went to Hong Kong to take advantage of more conducive conditions. Hong Kong is the world capital of horse racing with two race tracks alone raking in an estimated 71 billion Hong Kong Dollars which is nearly as much as the combined income from all thoroughbred racetracks in the united states. Hong Kong race tracks, which are run by the Hong Kong Jockey club, maintain a leaner pool of horses which make it ideal for a mathematical model. Using a computer model that they developed, Benter and woods won huge sums of money, but they soon fell out and parted ways before they had refined the software to its maximum potential. Benter continued work on the software, coming up with a product which now has the best statistical handicap success.
The system works in a way very similar to the technique described in “Beat the Dealer” for blackjack. They analyze multiple variables such as speed, jumping power, track condition and past performance. All variables are graded via specially designed software, fed into a database and used to produce a coded probability score which guides the bettor on which horse to choose. Benter then compares the horse’s probability to win against market price. If the market price is significantly higher than the computed probability of winning for given horse, he places a wager on that horse. Through value theory, he is guaranteed to win more money than he has wagered in the long term. Benter put together a team to help with determining the probabilities which combined with greater experience has seen him grow his handicapping variable count from 16 at the outset to over 120. This method is said to bring him about 24% profit on turnover which is a remarkably high return for a gambler.
Benter’s system has won him accolades around the world not only as a prolific gambler but a brilliant mathematician, statistician and computer scientist. He is highly respected in the academic arena across the United States and is invited to lecture regularly in top Universities in US, Europe and Asia.
The system works in a way very similar to the technique described in “Beat the Dealer” for blackjack. They analyze multiple variables such as speed, jumping power, track condition and past performance. All variables are graded via specially designed software, fed into a database and used to produce a coded probability score which guides the bettor on which horse to choose. Benter then compares the horse’s probability to win against market price. If the market price is significantly higher than the computed probability of winning for given horse, he places a wager on that horse. Through value theory, he is guaranteed to win more money than he has wagered in the long term. Benter put together a team to help with determining the probabilities which combined with greater experience has seen him grow his handicapping variable count from 16 at the outset to over 120. This method is said to bring him about 24% profit on turnover which is a remarkably high return for a gambler.
Benter’s system has won him accolades around the world not only as a prolific gambler but a brilliant mathematician, statistician and computer scientist. He is highly respected in the academic arena across the United States and is invited to lecture regularly in top Universities in US, Europe and Asia.
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