Analyzing the Placement Odds of Favorite Horses in the Thoroughbred Racing Industry of the British Isles
The thoroughbred horse racing industry is a multi-million pound global industry. Annually in the United Kingdom (UK), the sport attracts almost 6 million spectators, not only to view, but also to place bets on the more than 9,000 races run. The turnover of the horse race betting market in the UK alone was reported to be in excess of £10 billion in 2006. However, the money does not only lie within the betting market, as the racing industry supports the wider economic community worldwide.
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