The Apprentice – Betting System Task – by David Renham

The fading sound of Big Ben in the background meant it was just after 6am. The phone rang and a half-asleep Frankie rushed down the stairs.

‘Hello this is Lord Sugar’s office. Lord Sugar wants you to meet him at Epsom racecourse. The cars will pick you up in 30 minutes.’

Frankie put the phone down and while sprinting back up the stairs barked out,

’30 minutes everyone. We’re off to a racecourse!’

There was a mass of movement – frantic ironing, quick showers, hairdryers bursting into life, shoes buffed, etc, etc. At 6.30 calm had descended and all 6 candidates made their way to the front of the building where the cars had just pulled up. 40 minutes later, they were standing in the racecourse paddock facing Lord Sugar’s trusted aids Karen and Nick. That famous number plate ‘AMS 1’ came into view and parked up. Lord Sugar got out of the car and made his way over to where everyone was standing.

‘Morning.’

‘Good morning Lord Sugar.’

‘You may well be wondering why I’ve bought you to one of the most prestigious racecourses in the country. Well the gambling industry is now massive business across the world. In 2009 the legal gambling market totalled an estimated £210 billion globally. That is a serious amount of money. Horse racing has always had a strong association with gambling and making money from horse racing is the object of today’s task.....

Your task today is to develop a horse racing system for turf flat racing that has made the biggest profit over a 3 year period from 2008 to 2010. You are allowed to calculate your profits using Befair Starting Price rather than the traditional bookmaker’s SP. However, there is catch. The software that I will be giving you to help you with the task can only test data from 2008 and 2009 – you will have to be confident in your system that it will not have ‘bombed out’ in 2010 as the 2010 profits and losses will be added to the 2008-09 ones. The software will take 5% commission into account when calculating profits and losses, as commission is paid on all winning bets on Betfair.

Which team went on to win this task?

What was the key reason Lord Suger pointed to one system designer shouting "You're Fired ".

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