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Kelly Maximizes Long‑Run Wealth
- Ed Thorp popularized the Kelly criterion to maximize long-run wealth despite short-term risk.
- William Ziemba applies Kelly-based sizing across gambling and investment contexts to grow long-term capital.
Breeders' Cup Test Of A Pricing System
- Ziemba and Ed Thorp tested a racetrack pricing system at the 1984 Breeders' Cup and reported it in his book.
- The system priced place/show bets and used Kelly sizing to stake advantage bets at scale.
Benter's Edge: Speed And Models
- Bill Benter built highly successful computerized betting models for Hong Kong racing by exploiting rapid odds updates and large-scale pools.
- Ziemba documents Benter's methods in the book Efficiency of Betting Markets.