Accurately estimating the winning probabilities of participants in competitive events, such as elections and sports events, represents a challenge to standard forecasting frameworks such as regression or classification. They are not designed for modeling the competitive element, whereby a...

The aim of much horserace modelling is to appraise the informational efficiency of betting markets. The prevailing approach involves forecasting the runners' finish positions by means of discrete or continuous response regression models. However, theoretical considerations and empirical evidence...

This paper introduces an improved approach for forecasting the outcome of horseraces. Building upon previous literature, a state-of-the-art modelling paradigm is developed which integrates least-square support vector regression and conditional logit procedures to predict horses' winning...