The behaviour of Alberta gamblers: Evidence from the tote at Northlands Park
Bibliographic record
Abstract
We analyzed more than 500 races run at Northlands Park horse track in Alberta, Canada. Bettors are revealed to place their bets in a way that is inconsistent with the maximisation of expected monetary returns. In contrast to nearly all of the previous literature on betting market inefficiency, we find that bettors overbet the favourites and underbet the longshots: Where other researchers find that bettors have a preference for risky bets and the ‘thrill of hitting the longshot’, we find that Alberta bettors have a preference for the bets that have yield the highest frequency of wins even though the average return is lower. The behaviour of Alberta bettors is consistent with a betting strategy where one aims to have the lowest rate of decay in one’s game bank or alternatively the lowest price per hour for an active gaming participant at the track.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.002 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.002 | 0.002 |
| Scholarly communication | 0.001 | 0.000 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.001 | 0.001 |
| Insufficient payload (model declined to judge) | 0.002 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".