Calculated Bets (Outlooks)
Calculated Bets describes a gambling system that works. Steven Skiena, a jai-alai enthusiast and computer scientist, documents how he used computer simulations and modeling techniques to predict the outcome of jai-alai matches and increased his initial stake by 544% in one y
Mathematical modeling done right
To knowledge seekers, the ability to understand and beat a system is the entire game. In this book, Skiena describes how he and some of his students wrote a computer program to win money betting on professional jai alai matches. Along the way, he explains the origins of the game and some of the basic rules, the fundamental bets that can be made as well as the meaning of statements such as pari-mutuel betting. His program does work well, in that he quadruples his money in a short time. Once that is done, he gives the money to a university charity, hoping to make his money from writing this book.
The fact that such a program could be created is not surprising. Jai-alai is a sport where individuals compete one-on-one or in teams of two, and the betting patterns determine the payoffs. It is much easier to simulate these types of matchups and predict the outcome than it is for team games. Baseball managers have been doing such modeling for years. If my memory serves me correctly, the...
Calculated Bets (Outlooks) is one of best selling in Information Theory category.
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