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Re: A Modest Proposal (938 Views)
Posted by: David Patent (IP Logged)
Date: July 04, 2002 04:11PM

O.K., I have thought about the issue of odds and if they should affect our scoring system and here's where I come out:

If we are treating this contest as a test of handicapping skill where we are competing on our ability to select the horses that will run the best (which will be a reflection of both sheet reading ability and the accuracy of the product we use), then the price of the horse should play no role in the contest results. Any impact we let price have on our selections necessarily adds an incentive to change or disregard our handicapping opinion.

For example: I like the horse that's likely to be 3:5. I give him a 50% chance of winning based on the sheets. There is a horse likely to go off at over 10:1 who I give a 15% chance of winning. If we are doing a pure handicapping contest I should select the 50% horse for first because that's who the sheets tell me has the best chance of winning. If we let price play a role, then I should probably select the 15% horse because the expected return to me is higher. But then I am picking a horse for first who I don't really believe is the best horse. We do that in betting all of the time but that's a money management issue, not a handicapping issue. And when the contest is over, the excuses are going to fly -- I have mine ready.

My problem with using price in this contest is twofold: 1) We had complaints in the previous contest that not being able to know the odds or scratches ahead of time necessarily negated our bets (a scratch) or our bets would have been different if we had been able to wait until post time (the odds were not what we thought they would be). We will have the same problems in this contest if price plays a role.

2) I thought there was some desire to focus somewhat on the accuracy of the numbers and to concentrate on horse picking ability over money management. Letting the odds come into play negates our ability to accomplish those goals.

So, let's decide what we are trying to test and be clear on how the rules of the contest will affect our behavior (politicians should try that some time).

I'll throw it open for more discussion.

We still need to select the track(s) for the 13th.



Subject Written By Posted
A Modest Proposal (1767 Views) David Patent 07/03/2002 05:34PM
Re: A Modest Proposal (917 Views) HP 07/03/2002 07:02PM
Re: A Modest Proposal (957 Views) Mall 07/03/2002 07:59PM
Re: A Modest Proposal (904 Views) HP 07/03/2002 09:20PM
Re: A Modest Proposal (875 Views) Mall 07/04/2002 12:30AM
Right On Brother (920 Views) Paul Ory 07/04/2002 12:52AM
Re: A Modest Proposal (882 Views) TGJB 07/03/2002 08:25PM
Re: A Modest Proposal (958 Views) David Patent 07/03/2002 09:21PM
Re: A Modest Proposal (920 Views) HP 07/03/2002 11:18PM
Re: A Modest Proposal (926 Views) David Patent 07/04/2002 12:32AM
Re: A Modest Proposal (854 Views) TGJB 07/04/2002 04:36PM
Re: A Modest Proposal (954 Views) Alydar in California 07/04/2002 06:49AM
Re: A Modest Proposal (938 Views) David Patent 07/04/2002 04:11PM
Re: A Modest Proposal (905 Views) Mall 07/05/2002 12:14AM
Re: A Modest Proposal (917 Views) TGJB 07/05/2002 07:18PM
Re: A Modest Proposal (942 Views) TGJB 07/04/2002 04:41PM
Re: A Modest Proposal (857 Views) Alydar in California 07/05/2002 08:02AM
Re: A Modest Proposal (930 Views) HP 07/05/2002 11:25AM
Re: A Modest Proposal (901 Views) David Patent 07/05/2002 03:08PM
Re: A Modest Proposal (861 Views) HP 07/05/2002 05:20PM
Re: A Modest Proposal (914 Views) Mall 07/05/2002 06:25PM
Re: A Modest Proposal (892 Views) David Patent 07/05/2002 07:17PM
Re: A Modest Proposal (880 Views) Mall 07/05/2002 08:25PM
Re: A Modest Proposal (933 Views) HP 07/05/2002 09:30PM
Re: A Modest Proposal (926 Views) David G. Patent 07/06/2002 11:51PM
Track Selection (930 Views) Mall 07/07/2002 11:36PM
Re: Track Selection (904 Views) David G. Patent 07/08/2002 03:27AM
Re: Track Selection (895 Views) Alydar in California 07/08/2002 04:59AM
Re: Track Selection (926 Views) HP 07/08/2002 12:49PM
Re: Track Selection (900 Views) TGJB 07/08/2002 03:04PM
Re: Track Selection (935 Views) HP 07/08/2002 03:37PM
Re: Track Selection (978 Views) David Patent 07/08/2002 03:41PM
Re: Track Selection (923 Views) TGJB 07/08/2002 04:09PM
Re: Track Selection (947 Views) David Patent 07/08/2002 04:51PM
Re: Track Selection (913 Views) TGJB 07/08/2002 06:25PM
Re: Track Selection (967 Views) HP 07/08/2002 04:57PM
Re: Track Selection (948 Views) David Patent 07/08/2002 05:35PM
Re: Track Selection (912 Views) HP 07/08/2002 05:47PM
Re: Track Selection (924 Views) Mall 07/08/2002 05:57PM
Re: Track Selection (916 Views) HP 07/08/2002 06:22PM
Re: Track Selection (985 Views) TGJB 07/08/2002 06:18PM
Re: Track Selection (966 Views) David G. Patent 07/09/2002 01:55AM
Re: A Modest Proposal (864 Views) TGJB 07/05/2002 07:19PM
Re: A Modest Proposal (887 Views) Alydar in California 07/06/2002 05:25AM
Re: A Modest Proposal (933 Views) mandown 07/03/2002 09:18PM


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