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 Race of the Week:  The Modesty Stakes Churchill May 3, 2024  • 2 Specials Available
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Re: A Modest Proposal (945 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 (1780 Views) David Patent 07/03/2002 05:34PM
Re: A Modest Proposal (924 Views) HP 07/03/2002 07:02PM
Re: A Modest Proposal (964 Views) Mall 07/03/2002 07:59PM
Re: A Modest Proposal (914 Views) HP 07/03/2002 09:20PM
Re: A Modest Proposal (883 Views) Mall 07/04/2002 12:30AM
Right On Brother (929 Views) Paul Ory 07/04/2002 12:52AM
Re: A Modest Proposal (890 Views) TGJB 07/03/2002 08:25PM
Re: A Modest Proposal (965 Views) David Patent 07/03/2002 09:21PM
Re: A Modest Proposal (927 Views) HP 07/03/2002 11:18PM
Re: A Modest Proposal (934 Views) David Patent 07/04/2002 12:32AM
Re: A Modest Proposal (863 Views) TGJB 07/04/2002 04:36PM
Re: A Modest Proposal (962 Views) Alydar in California 07/04/2002 06:49AM
Re: A Modest Proposal (945 Views) David Patent 07/04/2002 04:11PM
Re: A Modest Proposal (912 Views) Mall 07/05/2002 12:14AM
Re: A Modest Proposal (924 Views) TGJB 07/05/2002 07:18PM
Re: A Modest Proposal (952 Views) TGJB 07/04/2002 04:41PM
Re: A Modest Proposal (865 Views) Alydar in California 07/05/2002 08:02AM
Re: A Modest Proposal (936 Views) HP 07/05/2002 11:25AM
Re: A Modest Proposal (908 Views) David Patent 07/05/2002 03:08PM
Re: A Modest Proposal (868 Views) HP 07/05/2002 05:20PM
Re: A Modest Proposal (921 Views) Mall 07/05/2002 06:25PM
Re: A Modest Proposal (899 Views) David Patent 07/05/2002 07:17PM
Re: A Modest Proposal (887 Views) Mall 07/05/2002 08:25PM
Re: A Modest Proposal (942 Views) HP 07/05/2002 09:30PM
Re: A Modest Proposal (934 Views) David G. Patent 07/06/2002 11:51PM
Track Selection (937 Views) Mall 07/07/2002 11:36PM
Re: Track Selection (911 Views) David G. Patent 07/08/2002 03:27AM
Re: Track Selection (902 Views) Alydar in California 07/08/2002 04:59AM
Re: Track Selection (934 Views) HP 07/08/2002 12:49PM
Re: Track Selection (907 Views) TGJB 07/08/2002 03:04PM
Re: Track Selection (942 Views) HP 07/08/2002 03:37PM
Re: Track Selection (985 Views) David Patent 07/08/2002 03:41PM
Re: Track Selection (929 Views) TGJB 07/08/2002 04:09PM
Re: Track Selection (954 Views) David Patent 07/08/2002 04:51PM
Re: Track Selection (922 Views) TGJB 07/08/2002 06:25PM
Re: Track Selection (974 Views) HP 07/08/2002 04:57PM
Re: Track Selection (955 Views) David Patent 07/08/2002 05:35PM
Re: Track Selection (920 Views) HP 07/08/2002 05:47PM
Re: Track Selection (931 Views) Mall 07/08/2002 05:57PM
Re: Track Selection (924 Views) HP 07/08/2002 06:22PM
Re: Track Selection (992 Views) TGJB 07/08/2002 06:18PM
Re: Track Selection (973 Views) David G. Patent 07/09/2002 01:55AM
Re: A Modest Proposal (870 Views) TGJB 07/05/2002 07:19PM
Re: A Modest Proposal (895 Views) Alydar in California 07/06/2002 05:25AM
Re: A Modest Proposal (940 Views) mandown 07/03/2002 09:18PM


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