Professional Horse Racing Tips

Pro Betting Club

The Pro Betting Club is a team of professional gamblers and horse racing experts who have provided many long-term clients with accurate betting information that has helped the clients make a large amount of money. Their horse racing experts have a proven track record of high accuracy in their betting information, so there are no false claims or untrue hype! Their experts are industry insiders with years of betting experience in the horse racing betting field. Pro Betting Club offers a variety of packages, including Win Form Pro, which is a tipping service with huge profits over the past few months and Galileo Racing, which uses every aspect of analytics to provide over a 25% return on your investment. Pro Betting Club's team of experts turns betting from a game of chance into a worthwhile investment. This team of experts can turn your betting into a sure moneymaker. Continue reading...

Pro Betting Club Overview

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Changing A Gamble Into An Investment

There are two aspects of the analysis of each situation when should one bet and how much should be bet These may be referred to as strategy development and money management. They are equally important. While the strategy development aspect is fairly well understood by many, the money management (risk control) element is more subtle and it is such errors that lead to financial disasters. Chapter 2 discusses the basic theory of gambling investing over time using the capital growth Kelly and fractional Kelly betting systems and apply this to futures trading. Chapters 11-13 discuss hedge funds and focus on strategy development and risk control failures such as Niederhoffer in 1997, Long Term Capital Management in 1998 and Amaranth in 2006 and models of lottery, horse race and other betting situations, pension, insurance company and individual investment planning over time.

Gamblers As Hedge Fund Managers

With essentially zero wealth into hundreds of millions or billions. Each had several common characteristics a gambling background usually obtained by playing blackjack professionally and a very focused, fully researched and computerized system for asset position selection and careful attention to the possibility of loss. These individuals focus more on not losing rather than winning. Three were relative value long short managers consistently eaking out small edges who extensively used derivatives. One was a futures trader taking bets on a large number of liquid financial assets based on favorable trends (interest rates, bonds and currencies were the best). The fifth was a Hong Kong horse race bettor see Benter's paper in Hausch, Lo and Ziemba (1994). The sixth, James Simons of Renaissance, was in 2005 the top hedge fund earner in the world at 1.4 billion and second in 2006 earning 1.6 billion. The seventh is a superior trader and hedge fund manager. Their gambling backgrounds led them...

Descriptive measures of distributions

Another important measure of location of a distribution is the median. The median is described as the middle value when data are arranged in an array according to size. The median divides a probability distribution into two halves such that the area under the curve of one half is equal to the area under the curve of the other half. The median is frequently a better measure of central tendency than the arithmetic mean. Unlike the arithmetic mean, the median is not distorted by extreme outlier values. Further, the median can be calculated even for open-ended distributions. An open-ended distribution is a distribution in which all of the values in excess of a certain bin are thrown into one bin. An example of an open-ended distribution is the one we were compiling when we recorded the finishing position in horse racing for the horse starting out in the pole position. Any finishes worse than tenth place were recorded as a tenth place finish. Thus, we had an open distribution. The median...

Implied Probabilities And Arrowdebreu Theory

The purpose of this section is not so much to provide a formal description of the Arrow-Debreu theory as much as to provide a flavor for it. Let us consider the scenario that involves placing bets on a set of outcomes. Examples of such events could be a boxing match or a horse race. In these cases, the set of outcomes is finite and well defined. We will use the horse race example for purposes of illustration. Important to the discussion is the notion of betting. If, for example, the bet is placed in favor of a horse and it wins the race, then the reward is the payoff from the bet. If it happens to lose, then here, too, the reward is the payoff from the bet, except that the payoff is probably zero dollars. Thus, a bet is completely defined when we specify the payoff for every possible outcome. To place a bet, one has to put up the stake money. This is specified by the bookie. Continuing with the horse race example, let us say that the odds given by the bookie for the horse race is as...

Risk And Damage

Risk retention or self-insurance is troubling the insurance industry. Insurers' efforts to cope with loss of business have tried to offer alternative products or to cut premiums - both carry considerable risk. Cutting premiums or guaranteeing the pay-outs endangers the very same insurance companies that are meant to protect investors. Risk retention is also a prospect that troubles some investors - there is a tacit admission that they take a bet on an extremely low-frequency, high-impact risk. This means that their company can go bust, with little compensation for the investor. Business looks more like a gamble at the horse races.

Fed Policy

In the stock market, as with horse racing, money makes the mare go. Monetary conditions exert an enormous influence on stock prices. Indeed, the monetary climate primarily the trend in interest rates and Federal Reserve policy is the dominant factor in determining the stock market's major direction. 3

Kelly Formula

Another money management tool used by system traders is the Kelly formula. John Kelly, an employee for AT& T's Bell Laboratory, originally developed the Kelly criterion formula to assist AT& T with its long distance telephone signal-noise issues. After his method and formula were published as A New Interpretation of Information Rate (1956), believe it or not, the gamblers and oddsmakers realized its potential as an optimal betting system in horse racing. It enabled gamblers to maximize the size of their bets on consecutive races and was used to help in determining how much to parlay winnings into the next bet. The system is, as you can guess, used by many traders as a money management tool with the same goals in mind to try to determine how much money to place on the next trade. There are two basic components to the Kelly formula

Harry the Hoof

Take the example of a very successful speculator whom I'll call Harry the Hoof. This trader has three main passions in life his family, trading, and horse racing. Back in 1999, when the equity markets were rocking and rolling, it was not uncommon for him to have equity positions in the millions of dollars. One afternoon, after suffering what turned out to be his worst day of an otherwise very successful year, he came to see me after the close. I figured that he would just want to lie down on my trading couch for a while and lament over his seven-figure loss for the day. However, that afternoon, the 1,000,000 that he had just lost was not foremost on his mind. Harry the Hoof was more frustrated that he could not watch the Aqueduct racing channel from his office than he was upset about his trading debacle. The value of a dollar had become so trivial to him that he could no longer relate to the amount of money he had just lost. All he cared about was some four-legged animals galloping...

An Original Turtle

They are in Business Successful gamblers and traders pursue their goals as a business, not as a leisurely pursuit. For gamblers from blackjack to horse racing as well as all traders, making serious money demands they get serious. As a result, they take a completely different approach towards betting from people who enter these endeavors for

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