Steve Koch has been analyzing wagering data at Woodbine Entertainment Group for over 12 years to understand factors that influence betting. His initial analysis organized Woodbine's fractured data and found that field size significantly impacts revenue, informing racing operations. Koch now has a deep understanding of what customers want to bet on and how to maximize betting. Woodbine uses these insights to schedule races for higher wagering and only run races that add value rather than misusing purse funds. Koch believes data sharing could benefit the industry but it is rarely done. He continues refining Woodbine's predictive models to test new hypotheses and scenarios.
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By the numbers - Woodbine wagering analysis shows there's value in data
1. 12/21/2015 By the numbers: Woodbine wagering analysis shows there's value in data | Thoroughbred Racing Commentary
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Chris Lomon (/authors/chrislomon)
By the numbers: Woodbine wagering
analysis shows there's value in data
FEBRUARY 9, 2015
For Steve Koch, the subject of wagering analysis has become a hallmark of his role as vice president of racing at
Woodbine Entertainment Group (WEG), a genuine passion, and in his estimation, a gamechanging way of looking at the
horse racing industry.
It was nearly 12 years ago when Koch, then just 27, sat across from thenWoodbine President and CEO David Willmot. It
was day one on the job for the former, who was, no pun intended, looking to get out of the gates quickly in his new gig.
Just what he would do, however, wasn’t quite apparent to anyone in that office.
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“I've found that data is hoarded in our industry,” he said. “We don't seem to share well with each other and this is
unfortunate. Too many times, I have been working with an academic or student wanting to analyze some industry
element and they have struggled due to poor or unattainable data. I know the data exists and where it exists and who
controls it. That’s always very frustrating.”
Woodbine’s 2015 live Thoroughbred meet begins on April 11, but there is still plenty on Koch’s plate until opening day.
And while other responsibilities will take precedence for now, wagering analysis is never out of sight or out of mind.
“We like to keep the data fresh and at our fingertips, so that it’s a quick exercise whenever a new question presents
itself,” Koch said. “And, by being at our fingertips, we can turn to the data with spare time and test different scenarios and
hypotheses with very little effort. You just really never know what you will find or what better method you can trip into.”