FT Weekend: The secret gamblers using AI to hack horse racing

Behind the Money

Topher Forhecz

Markets, Investing, News, Banking, Finance, Business, Business News, Crypto

4.4 • 350 Ratings

🗓️ 26 April 2023

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week, we’re bringing you something from our fellow podcast, FT Weekend. The show travels to Miami, Florida, to drink some beers, place some bets, and discover how AI is changing the sport of horse racing. FT data journalist Oliver Roeder joins FTW host Lilah Raptopoulos to talk about how the ancient sport is being upended by anonymous computer-assisted bets. These secretive gamblers are injecting billions of dollars into the pools, and aggressively tipping the odds, and it’s putting the whole sport at risk.

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For further reading:

I used AI to bet on horse-racing. Here’s what happened

Stake.com: the Aussie gambling minnow that made it big on crypto

How English football became hooked on gambling

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On Twitter, follow Oliver Roeder (@ollie) and Lilah Raptopoulos (@lilahrap)

Read a transcript of this episode on FT.com

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Transcript

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0:00.0	Am I missing anything? Is this the right decision?
0:02.0	Can I show this data?
0:04.0	Am I too late?
0:05.0	Find clarity in your investment decision-making.
0:08.0	Manage your portfolio for sustainable growth
0:11.0	and regulatory alignment
0:12.0	with the ultimate blend of powerful AI and
0:14.6	industry expertise.
0:16.5	Reduce risk, meet your sustainability goals and push the boundaries of possibilities based on
0:21.1	facts, not opinions.
0:23.0	Clarity AI scaling human decisions through tech.
0:26.6	Visit clarity.
0:28.0	AI and take action today.
0:31.0	Hey there, it's Michaela.
0:33.0	For this week, we're bringing you an episode from another great Financial Times podcast.
0:38.0	It's called FT Weekend.
0:39.0	And it's a story all about how technology is changing the business of horse racing.
0:44.8	Don't worry, we'll be back with a new episode next week.
0:48.8	Thanks and enjoy.
0:50.4	I want to make a bet.
0:54.0	Okay, sure. I don't want to stop.
0:56.0	Well, who are you going to bet on?
	...

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