Hi there,
I was wondering if anyone would be able to roughly define a valuation of the prize money offered out in horse racing.
For example, the average prize money in higher quality group races in relation to the money on offer in a lower quality race with much less interest.
I would like this so I can view the list of races each day and quickly get a feel of the quality of each card.
I find that markets that turnover more money and have larger amounts of money sitting on both sides of the book are much easier to read, less volatile and as a result I tend to perform better in them.
Whereas low quality racing turning over <150k I find it harder to read and more volatile.
Correlation Between Prize Money & Market Volume in Horse Racing
Without answering your question directly, one of the key drivers of market volume is the price of the favourite.lm1994 wrote: ↑Fri Jul 21, 2023 11:17 amHi there,
I was wondering if anyone would be able to roughly define a valuation of the prize money offered out in horse racing.
For example, the average prize money in higher quality group races in relation to the money on offer in a lower quality race with much less interest.
I would like this so I can view the list of races each day and quickly get a feel of the quality of each card.
I find that markets that turnover more money and have larger amounts of money sitting on both sides of the book are much easier to read, less volatile and as a result I tend to perform better in them.
Whereas low quality racing turning over <150k I find it harder to read and more volatile.
Hmm what would I hypothetically do...
1) Collect data (by api, by parsing, sp archive, download my P/L).
2) Check if there significant correlation between prize money & my P/L (by excel (CORREL function), by stats program or by using other tool).
3) Check if there significant correlation between prize money & market volume.
4) Make XY graph (X - prize money, Y - P/L) and then smooth it or use "add trend line (polynomial)" in excel to make it easy to spot where the game is worth the candle, where is that prize money threshold where I'm wasting my time.
1) Collect data (by api, by parsing, sp archive, download my P/L).
2) Check if there significant correlation between prize money & my P/L (by excel (CORREL function), by stats program or by using other tool).
3) Check if there significant correlation between prize money & market volume.
4) Make XY graph (X - prize money, Y - P/L) and then smooth it or use "add trend line (polynomial)" in excel to make it easy to spot where the game is worth the candle, where is that prize money threshold where I'm wasting my time.