I am the author of the post. Your criticism is valid. There are a number of academic papers on fixed-odds betting. Too many, in fact. Here are some: http://ww

I am the author of the post. Your criticism is valid. There are a number of academic papers on fixed-odds betting. Too many, in fact. Here are some: http://www.ncer.edu.au/papers/documents/WPNo48.pdf http://www.ncer.edu.au/papers/documents/WPNo48.pdf http://www.jstor.org/stable/2353237 http://www.jstor.org/stable/2353237 http://www.jstor.org/stable/2240227 http://www.jstor.org/stable/2240227 http://www.jstor.org/stable/2554281 http://www.jstor.org/stable/2554281 Unfortunately, betting is far from my research field and I don't have the time to read the relevant literature. Since I don't have the time to read the papers, it would be wrong to cite them. People do that in academia all the time for political reasons, but this is a blog post, and I am not trying to please any academics. As I never claimed that my approach was a novelty, I don't see anything unethical in not citing papers. I didn't read any papers, I just came up with a simple mathematical model that any undergrad who studied linear programming should be able to come up with. Although I do not cite papers, please note that I refer to Minka's cookbook on advanced matrix theory, and Shor's comment on MathOverflow on the feasibility of linear programs.