How to Make $1 Billion Betting on Horse Racing with Machine Learning

Bill Benter is arguably the most successful sports bettor of all time. Its estimated he made close to $1 Billion betting on horses in Hong Kong. His story is well documented, but the models he used and the reasons for his success are often overlooked. In this video I break down the circumstances that made his his model profitable and the specifics of the exact machine learning model that he used. At the end I also analyze the feasibility of creating another model like this in 2022.

0:00 Intro
0:41 Who is Bill Benter?
1:22 Lesson 1: The Law of Large Numbers
2:30 Blackjack to Horse Racing
2:50 Bankroll Management
4:07 How did His Billon Dollar Model Work?
4:57 Secret Sauce
6:00 Improving the Billon Dollar Model
6:35 $$$$$$
7:12 The $10 Million Dollar Ticket
8:05 Could you replicate this?

National Problem Gambling Hotline: 1-800-522-4700

Articles Referenced:
- https://www.gwern.net/docs/statistics/decision/1994-benter.pdf
- https://www.tepinvestments.com/blog/beating-the-risk-of-ruin-mr-bill-benter-horse-racing-and-the-kelly-criterion
- https://en.wikipedia.org/wiki/Kelly_criterion
- https://www.youtube.com/watch?v=4B0mGYZqElo&ab_channel=BloombergQuicktake
- https://www.wired.com/2002/03/betting/
- https://www.wired.com/2002/03/betting/
- https://www.marca.com/en/lifestyle/2021/01/02/5ff0d37446163fb99b8b458c.html
- https://www.bloomberg.com/news/features/2018-05-03/the-gambler-who-cracked-the-horse-racing-code

#DataScience #KenJee

⭕ Subscribe: https://www.youtube.com/c/kenjee1?sub_confirmation=1
🎙 Listen to My Podcast: https://www.youtube.com/c/KensNearestNeighborsPodcast
🕸 Check out My Website - https://kennethjee.com/
✍️Sign up for My Newsletter - https://www.kennethjee.com/newsletter
📚 Books and Products I use - https://www.amazon.com/shop/kenjee (affiliate link)

Partners & Affiliates
🌟 365 Data Science - Courses ( 57% Annual Discount): https://365datascience.pxf.io/P0jbBY
🌟 Interview Query - https://www.interviewquery.com/?ref=kenjee

MORE DATA SCIENCE CONTENT HERE:
🐤My Twitter - https://twitter.com/KenJee_DS
👔 LinkedIn - https://www.linkedin.com/in/kenjee/
📈 Kaggle - https://www.kaggle.com/kenjee
📑 Medium Articles - https://medium.com/@kenneth.b.jee
💻 Github - https://github.com/PlayingNumbers
🏀 My Sports Blog -https://www.playingnumbers.com

Check These Videos Out Next!
My Leaderboard Project: https://www.youtube.com/watch?v=myhoWUrSP7o&ab_channel=KenJee
66 Days of Data: https://www.youtube.com/watch?v=qV_AlRwhI3I&ab_channel=KenJee
How I Would Learn Data Science in 2021: https://www.youtube.com/watch?v=41Clrh6nv1s&ab_channel=KenJee

My Playlists
Data Science Beginners: https://www.youtube.com/playlist?list=PL2zq7klxX5ATMsmyRazei7ZXkP1GHt-vs
Project From Scratch: https://www.youtube.com/watch?v=MpF9HENQjDo&list=PL2zq7klxX5ASFejJj80ob9ZAnBHdz5O1t&ab_channel=KenJee
Kaggle Projects: https://www.youtube.com/playlist?list=PL2zq7klxX5AQXzNSLtc_LEKFPh2mAvHIO