We asked some expert punters how they would make money in horse-racing if:
- race courses and races were changing from day to day (ie the business environment changing rapidly);
- there were many more horses in training (ie more competition);
- horses were strikingly more ‘trainable’ (ie innovations becoming more common and more radical);
- owners and trainers were preoccupied with trying out new ways of getting the best out of their horses? (industry increasingly preoccupied with innovation).
Their answers included:
- bet on more horses (ie increasing one’s chances by spreading one’s risk);
- bet your money on trainers (ie backing skill/expertise);
- invest in a horse transport business (ie services to participants);
- buy a bookmaker! (ie services to backers).
(Originally published in Applied Creativity, May 2010, and still more relevant!)
