How This Man Profited $1 Billion Betting on Hong Kong Horse Races

Bill Benter, is a reserved unassuming and media-shy Pittsburg resident who made almost 1 billion dollars by gambling on horse races.

The man was a mathematical genius who was on the cutting edge of both computer science and statistical modeling so it is widely assumed with his business knowledge that he could have made money just about anywhere, in a rare interview when asked about his success in horse racing he said: “I was driven only partly by money, I believe I probably could have made more money in finance, but that didn’t interest me, I didn’t get into professional horse racing because it was hard, but because it was said to be impossible” #BillBenter #HongKong #Economics

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References –

Kit Chellel “The Gambler Who Cracked the Horse-Racing Code” Bloomberg Business

Snyder, W.W., 1978. Horse racing: Testing the efficient markets model. The Journal of finance, 33(4), pp.1109-1118.

Williams, J. and Li, Y., 2008. A case study using neural networks algorithms: Horse racing predictions in Jamaica. In Proceedings of the International Conference on Artificial Intelligence (ICAI 2008) (pp. 16-22). CSREA Press.

Edelman, D., 2005. A competitive horse-race handicapping algorithm based on analysis of covariance. In The economics of gambling (pp. 122-129). Routledge.

Chou, K.P., 2007. Hong Kong and Macau under one country, two systems. In Interpreting China’s Development (pp. 67-71).

All footage courtesy of Storyblocks

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