Reddit reviews The Eudaemonic Pie

Even though he was spurred by Beat the Dealer, his system is akin a bit more akin to what was done in The Eudaemonic Pie than to card counting.

There's no real "code" to crack in a parimutuel system. You can have all the math you want in your system and all you are really doing is betting you are better at picking winners than other betters are. Maybe you're right, and maybe you're wrong, but you can't sit down at a computer and prove it.

Given parimutuel is an open system which alters odds based upon other bettors, you can find betting combinations that exploit your allegedly better picking better than other bettors can. If you can beat them you can win money without beating the house. You're not even supposed to be able to beat the house in parimutuel, it is designed so they have no skin in the game.

I'm familiar with the gambler's fallacy. I was referring to either some sort of cheating device being employed by the house to increase the incidence of the zero hitting, or a mechanically biased wheel.

https://www.amazon.com/Eudaemonic-Pie-Bizarre-Physicists-Computer/dp/1504040694?tag=duckduckgo-d-20

http://graphics.cs.columbia.edu/courses/mobwear/resources/thorp-iswc98.pdf