In the following chapters Steven builds a Monte Carlo simulation of Jai Alai so that he can test his theories about the likelihood of any one particular player in a matchup winning the event. With 8 players vying to be the best there is an advantage in being one of the first two paired players to play. Steven's simulation proves this hypothesis. Using available player ratings Steven builds a model for each player and for the payoffs for various kinds of Pari-Mutuel bets. He then goes on to build an automated betting system, which was rather sophisticated for its time. Finally, Steven discusses how to approach other sports and gambling games using his methodology.
All-in-all this book is a fascinating read. Some find it hard going but I can appreciate all the hard work that Steven has put into mastering modelling a sport and betting on it. If you want to know what it takes to model a sport and build a bot to
place bets then you need this book at hand. You won't learn how to
program specifically for your requirements and this book was written
before Betfair took off. However, you will learn what it takes to
dedicate yourself to a related task.
Amazon - Calculated Bets: Computers, Gambling, and Mathematical Modeling to Win