I grew up around horse racing (my first job was hot-walking horses at Oaklawn Park) and I've heard this theory bounced around by various bettors over the years, but I've never seen it flushed out like this. Fascinating work with implications outside horse racing.
@lukestein.com🧑🏾🐎🧑🏽🐎🧑🏼🐎 WP: “Racial discrimination in asset prices: Evidence from horse betting” w/ @spencerbarnes.bsky.social
If gamblers underestimate minority trainers (or just don’t 𝘭𝘪𝘬𝘦 them), their horses may generate higher risk-adjusted returns!
Download WP lukeste.in/horsebetting
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