TDN Q&A: NHC Winner Scott Coles

[Wandering Eyes]

On Feb. 10, Scott Coles, a 34-year-old futures trader from suburban Chicago, took down the most prestigious handicapping tournament in the country, the NTRA’s 20th National Horseplayers Championship in Las Vegas. It was an unlikely result. In a room full of seasoned tournament pros and lifelong handicappers–many of whom started playing well before Coles was born–it was a relative neophyte who won the NHC’s $800,000 first prize. Coles has only been handicapping seriously since American Pharoah’s Triple Crown run and has been playing tournaments for less that three years. But Coles’s victory was notable for another reason: he represents the demographic racing desperately needs to attract. That is, he’s a young, tech-savvy urban professional with some disposable income who is interested in the competitive and puzzle-solving aspects of horse playing. Last week, Coles sat down with the TDN and chatted about his profession, his handicapping, and why he thinks racing needs to push tournaments more.

LM: You’re two weeks removed from the NHC. What’s changed?

Coles: Ha, my bank account is the easiest answer. I get to finally get rid of a massive student-loan debt, which will be a big relief. I am trying to just keep doing what I have always done in my life, but I also have a huge opportunity to represent this game for the next year. I have done a lot of interviews, podcasts, radio shows, etc., and am just trying to enjoy it while I plan the rest of the year.

LM: Was there a score during the NHC that you were particularly proud of?

SC: I think I was most proud of my game plan. I knew I wouldn’t be anywhere near the best handicapper at the tournament, with so many legends of the game competing. However, I knew that I could use a lot of programs and attack it from a different angle. I used everything from short fields and short prices to keep accumulating points that I didn’t think others would be going after. I was also proud of winning after dropping to ninth place with six races left to go at the final table.

LM: How were you first introduced to handicapping?

SC: I just watched the Triple Crown on TV starting in high school, and then I got really serious the last 5-plus years and really wanted to improve and do the work. I finally discovered the tournament world later in 2016 and really started putting my focus on getting better at tournament play.

LM: You currently work as a futures trader. Talk, if you would, about the details of the work you do, and if you’re able to transpose some of your skills to handicapping.

SC: I am part of a group of day traders inside of a big firm, and we trade a variety of different products for short periods of time. We are constantly coming up with ways to use research, apps and tools to make smarter decisions and capture opportunities in the markets. Horse racing is a natural transition to make. Tournaments are especially similar when you have to play so many races each day. You have to process as much information and data as you can as quickly as you can to make an optimal decision.

LM: You mentioned playing poker. Are there some aspects of poker tournaments that you think racing tournaments could learn from?

SC: I don’t play as much anymore, but I was very serious about it in college and law school. I think finding a way to get on TV more helps promote the game a ton. When you see someone win on ESPN, it inspires people to play. More tournaments, or some sort of lower stakes series that people can play in, would be another idea. There will be a lot of thought and talk about how to draw more players as the year goes on.

LM: Racing often struggles to reach the younger demographics. As someone who grew up outside the business, what do you think racing does well? What do you think racing needs to improve on?

SC: I think racing provides great opportunities for people that know about it. It is such a great game. I think racing needs to find a way to get more people involved and really push tournaments. I don’t think enough people know tournaments are out there and what they are. I didn’t even know about them until 2016, and I was betting a lot before that as a casual player. If it wasn’t something I ever saw advertised, given how involved I was, it is hard to think that the average person knows about these opportunities.

LM: What products do you typically use when handicapping?

SC: I use Timeform US and the DRF Formulator, or just the Racing Form, depending on the day. I started using STATS Race Lens during the NHC, and I think that is going to be a great complementary product going forward for me.

LM: A big point of contention recently is data access and cost. Do you think increased information at low or no cost plays a role in attracting new horseplayers? Or is that something that comes in after someone is hooked?

SC: I think it might help someone who at least has some interest in the sport, but I think the main objective is to get people to the races or aware of the opportunities in tournaments that could be very similar to the poker or daily fantasy tournaments that they are already playing anyway.

LM: Have you considered owner and/or breeding horses? Does that world seem utterly foreign, even for someone who handicaps regularly?

SC: Ownership interests me quite a bit. Breeding is pretty foreign to me, and I don’t know as much as I would like to about either, despite handicapping as much as I do.

Scott Coles Miscellany..

Favorite music: Hip-Hop/Rap, Country and most mainstream in between. I’m all over the place

Last book you read: The Complete Handicapper, by James Quinn

Favorite horse: American Pharoah (I Love Romance and Fiery Lady quickly moving up my list after the NHC wins in the (last two races)

Favorite athlete outside of racing: Past: Michael Jordan. Present: Tom Brady and Odell Beckham (on the field at least)

What are your hobbies outside of handicapping?: Anything sports related (both watching and playing)/poker/ hanging out with family and friends as much as I can.

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