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I am sorry to say that Wager Journal is closing for now.

However, I have started another blog called bankruptopia, which will lend insight in to the US and world economies.  From time to time at Bankruptopia.com I will be covering and analyzing sporting events such as the NCAA tournament, the Kentucky Derby, and the Super Bowl.  So visit my blog and read up on the economy as well.

Recently I have a posted a piece at Bankruptopia about 2012 NCAA Tournament Bracketology.  It is similar to some of the ones I wrote last year, which were hugely successful.

Thanks for reading.

Animal Kingdom is the deserving winner of the 2011 Kentucky Derby.  The horse ran a good race and performed better than I expected on the dirt.  Unfortunately I threw out Animal Kingdom, along with the 3 other turf horses, in my initial Kentucky Derby analysis because he never raced on the dirt.  It seems that I erred, along with most others, in my assessment as evident by the 38-1 odds.  Although I correctly predicted that the pace would not be fast, and then correctly predicted that Nehro would run a good race, I failed to figure that at least one of the turf runners was worthy of potentially winning the race.  If I could change my method, I would not toss out almost a quarter of the field for fitting a low percentage win profile, but rather figure that collectively one would take to the dirt.  Animal Kingdom had the highest Beyer number of the horses I labeled as “not true dirt horses” and could have very easily been factored into a cheap exacta saver ticket along with Nehro.

Races like this Kentucky Derby is why horse racing is the most challenging of all sports to handicap.  But as you can see from the almost $80 payout for a $2 wager, it is also the most rewarding.  I am disappointed in my handicapping skills for not hitting this race.  However, this Kentucky Derby I take away a valuable lesson.


 

It all comes down to pace and my 2011 Kentucky Derby analysis figures there to be an average one.  Although many are predicting a quick pace, I just don’t see it that way.  The problem with this race is that there isn’t that much true early speed.  There are lots of horses that like to run up front, but they aren’t good enough to win if they contribute to too fast of a pace.  Horses like Mucho Mach Man, Midnight Interlude, Watch Me Go, Soldat, Santiva, Pants On Fire, Decisive Moment, and Twice the Appeal have never done well with a quick pace in races over a mile.  I don’t think these front runners will perform any better in the Kentucky Derby if the pace gets pushed.  Knowing that, I expect none of them to push the pace too early.

For further analysis let’s use our historic Kentucky Derby winner and pace database.  Using the race data for the last 20 years we can see that an average pace for the Kentucky Derby is much quicker than any normal race.  For the Derby, an average pace is about .47 for a half.  So to start my selection process I want to throw out any front running horse that didn’t perform well at the end of the race where the pace for the half was about 47 and change.  I will define “well” at the end of the race as a last  furlong fraction of about 12.5 in a route, on dirt.  If we do this, we need to toss Twice the Appeal, Decisive Moment, Shackleford, Soldat, and Watch Me Go.  They all had last fractions of more than 13.  I am thinking that they will never make the added last panel so I will throw them out.

Next we’ll toss out the turf runners.  Goodbye Animal Kingdom, Brillant Speed, Twinspired, and Derby Kitten.  I say let them beat me.  There is a reason they run on turf and polytrack.  They are not true dirt horses.  We can also toss out Uncle Mo for being a little under the weather and Stay Thirsty for never achieving a Beyer figure over 90.

Now we are left with Archarcharch, Comma to the Top, Pants on Fire, Dialed In, Master of Hounds, Mucho Macho Man, Midnight Interlude, and Nehro.  That’s eight horses.  Let’s see if we can eliminate a few more.  Lucky for us a few of these ran at the same tracks and we can compare their times easily.  We’ll first look at Comma to the Top and Midnight Interlude.  Comma to the Top was a heavily raced two year old who only recently tried real dirt.  Previously he only won on polytrack.  His last Beyer number is also a little suspect because he was out in front on the lead.   He set the pace with a 47.33 and finished with a 12.63.  Not too bad, but I would rather have Midnight Interlude in this race due to more consistency on dirt, and a closing fraction of 12.34.  We’ll toss Comma to the Top.

Next we’ll look at Pants on Fire, Nehro, and Mucho Macho Man.  In their last races at Fair Grounds, Pants on Fire had a first fraction of 47.7 and finished with 12.68, which was clearly better than Mucho Macho Man’s of 47.97 and 12.79.  It was a faster first and faster last.  But what about Nehro?  He started with a somewhat slower 47.96 and finished with a strong 12.35.  For now we will toss Mucho Macho Man.  We can also compare Nehro against Archarcharch.  Looks to be about the same.  Archarcharch beat him by a neck, but Nehro had the better drive.

So this is how I rate them if the pace is average or faster than average.  Nehro, followed by Midnight Interlude, Archarcharch, Pants on Fire and then Master of Hounds.  The faster the pace the better Nehro and Master of Hounds should perform.  We haven’t talked much about Master of Hounds, but he is already proven at this distance.  He is a good closer and he was shipped all the way across the pond for this.  His figures of 115 translates to about a Beyer of 95 so he fits in the race.  Don’t let the lack of data on him fool you.  The slower the pace the better Archarcharch, Midnight Interlude, and Pants On Fire will perform.

With all of that being said, this Kentucky Derby is a bettor’s dream.  It lacks true quality horses so the field is very evenly matched.  There is also no dominant horse this year so there will be tons of value.  I will be watching the tote board very carefully.  I hope you enjoy watching the race and hopefully picking the winner.  Good luck.


 

 

 

I have been getting a lot of requests for this.  Here is the link for the 2011_wagerjournal_Kentucky_Derby_Database_excel97-03.


 

In my last post about successful sports betting, I discussed the database.  So to show you how it’s done I am giving my readers my database on the 2011 Kentucky Derby.  Without further wait, the 2011 Wagerjournal Kentucky Derby database is out and can be downloaded.

The 2011 Kentucky Derby database has two components.  The first is a historical database that gives a ton of information about the last 20 Kentucky Derbies and their winners.  It examines the historic Kentucky Derby pace analysis and hopes to give the reader an idea of the winner’s profile.  It is a must read for anyone doing Kentucky Derby analysis.

The second sheet in the 2011 Kentucky Derby database contains information from Brisnet’s free Kentucky Derby Ultimate Past Performance sheets.  It has some interesting pace handicapping data about the current top 30.  It rates them in their prep races and it is a valuable tool for anyone trying to pick the winner of the Kentucky Derby.

The Kentucky Derby database is in Excel 2007 form, but if you email me I can send it to you in a different format upon request.

It’s never too early to start picking a winner.


 

Is this going to affect my April Full Tilt points?

The 3 largest internet poker sites are under attack by the U.S. Federal Government for a violation of the Unlawful Internet Gambling Enforcement Act and the operation of an illegal gambling business. In a press release from the U.S. Attorney Southern District of New York, released yesterday, the Feds are seeking $3 billion in penalties against Poker Stars, Full Tilt Poker, and Absolute Poker. The sites were seized in the indictment.

This is as good a reason as any to use a reputable sportsbook and person to person Moneygram or Western Union when depositing funds in your sports book account. There are many good sports books that allow players in the U.S. person to person wire transfers.

I just finished taking the Big Risk Test at BBC.com.  It was a cleverly designed survey focusing on risk assessment.  The Big Risk Test tested different areas of risk, from types of risks people might endure, to seeing if people can figure out probability and value and then make decisions based on those ideas.  The survey takes about 15 minutes and it is surprisingly fun.  You also get your results instantly and can see how well you tolerate risk.  As an added bonus you will get the results from the study, which should be pretty interesting, emailed to you.

If you take the Big Risk Test, watch out for the last question in the probability section.  It is a little tricky.  (Although I got it right)

Enjoy.


 

If you remember I posted a blog about building a hockey playoff betting model in which I outlined a scenario where Buffalo looked to have some good expected value to win the Eastern Conference.  Based on the way the Sabres and the competition were playing, I gave the them roughly a 20% chance of missing the playoffs, a 40% chance of becoming the 8th seed, and a 40% chance of becoming the 7th seed.  I said that historically the 7th seed has a pretty good history of beating the 2nd seed in the playoffs, so I would let the 1st round series play out before I hedge my mythical $100 bet.  I still stand by this, otherwise it can get really nasty if I hedge the first two rounds and the Sabres lose in the third round.  It is also my opinion that Buffalo has a decent chance of winning this series, as they have been red hot in the second half of the season.  Therefore hedging the first round probably isn’t a good idea.  It is the second round that seems like the place to hedge because the second round has a very high loss percentage for 7th seed teams.

In my hockey playoff betting model, I surmised that if Buffalo wins the first two rounds, they should easily win the third round.  This might not really be the case, but I said this because historically, teams that are 7th seeded and win the first two rounds, are an astounding 5-0 in the third round.  What makes it even more interesting is that 4 of the 5 teams were the underdogs in their series while beating their higher seeded opponents.

If you remember, I opted to bet the the Sabres to win the Eastern Conference Championship, rather than the Stanley Cup, because no 7th or 8th seed has ever won the cup.  I prefer not to bet on event where I have no clue as to what the probability is.

So I am sticking to my plan for my hockey playoff betting model.  If the Sabres win the first round, I am laying some money off on their next opponent.  If they win the second round, I will let it ride in the third.


 

There are only 2 real Prep races, The Arkansas Derby and  The Blue Grass Stakes, left before the Kentucky Derby field is finalized.  Both Kentucky derby preps races will be run this Saturday.  The Kentucky Derby field is limited to 20 horses.  The top 20 earners for 3 year olds are allowed to compete.

Let’s look at the possible field for the 2011 Kentucky Derby.

RankHorseTrainerEarnings
1Uncle MoTodd Pletcher$1,360,000
2Dialed InNicholas Zito$840,000
3Comma to the TopPeter Miller$671,000
4Toby's CornerH. Motion$625,000
5Pants On FireKelly Breen$623,000
6Midnight InterludeBob Baffert$600,000
7J P's GustoJoseph Petalino$541,500
8SoldatKiaran McLaughlin$540,000
9Master of HoundsAidan O'Brien$441,884
10Twice the AppealJeff Bonde$400,000
11Mucho Macho ManKatherine Ritvo$370,000
12Decisive MomentJuan Arias$301,000
13Animal KingdomH. Motion$285,000
14AstrologySteven Asmussen$281,893
15The FactorBob Baffert$270,000
16Stay ThirstyTodd Pletcher$260,000
17JaycitoBob Baffert$250,000
18SantivaEddie Kenneally$240,254
19Watch Me GoKathleen O'Connell$235,500
20ShacklefordDale Romans$212,000
21NehroSteven Asmussen$200,000
22Arthur's TaleThomas Albertrani$200,000
23Silver MedallionSteven Asmussen$184,334
24Anthony's CrossEoin Harty$182,000
25ArcharcharchWilliam Fires$180,000
26Joe VannTodd Pletcher$167,400


 


 

 

There are four ideas to master when attempting success at sports betting.  The first is to understand the relationship between the probability of something happening and the reward you will get in return.  We went over this in Sports Betting Formulas 101, Sports Betting Formulas 102, and Sports Betting Formulas 103.  The second is the idea of how much you should risk based on your bankroll and the intended return of your investment.  We covered that in The Keys to Successful Sports Betting- Money Management.  The third idea is the idea of discipline.  We touched on that in The Keys to Successful Sports Betting- Maintaining a Wager Journal.  The last idea in successful sports betting is handicapping.  This is the most time consuming and most difficult aspect of sports betting to master.  It is the basis of our sports betting models and it must be figured out as accurately as possible so that we can gain the advantage in our sports betting.

We Can’t Predict the Future

No we don’t have a crystal ball, but we can know history.  History has a tendency to repeat itself.  Whether it be in an individual’s or team’s performance or in an unrelated pattern that shows itself in data.  While we never know what may happen during a particular event, we can figure out the past percentages and then surmise that until something changes it is likely to happen again.  When we put a percentage value on our guesswork, we have just made a betting model and have take a step closer to becoming a successful sports bettor.

How Can We Know the Past?

The only way we can know the past is to have a database at our disposal.  Since most sports can be examined through statistical analysis, it is only fitting that we use a database to look at information.  When we have this data at out fingertips, we can begin to discover correlations and patterns.  This enhances the accuracy of our sports betting models and allows us to better gauge whether the line we are getting is a value.  A database is the best tool a handicapper can have.

Where We Can Get a Free Sports Betting Database?

The best free multi sport database can be found at bballsports.com.  It is here that you will have access to the Super Database.  All four major Pro sports, football, baseball, basketball, and hockey are referenced in the database.  It also allows you to add your own stats with formulas based on the other stats.  For instance, if you want to see WHIP in baseball, the database allows you to make a column that will add hits to walks and then divide by innings pitched.  This will give you a better view of how a pitcher pitches.  However, the database does have a few shortcomings.  One, it is not updated with information for the current year.  This means it is only good for understanding correlations and patterns in the past but not good at evaluating the present talent.  It also cannot be copied, which means you cannot export the data for use in your own database.

Another method acquiring a database is to build one.  With Microsoft Excel and a few websites like ESPN, Sports-Reference, and Covers, it is possible to copy data and paste it  into your own database.  This is especially useful for the current sports year.  An updated database can cost hundreds or thousands of dollars for the year.  If you are a casual or small stakes bettor, it may not pay to buy one.

Remember, if you choose to build a database, it can be time consuming.  It is always best to build them with other people, while sharing information with them.  Also, it is a good idea to record information such as the over/under and the moneyline.  This allows you to back test any angles that you might find from analysis.


 



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