High speed trading and horserace betting ?

[Benny]

Read the following quote today on high speed trading and made me wonder what the difference is with the direct to tote computer groups doing this sort of thing in racing ? Not a trader myself. Thoughts.

" The long-running debate about high-frequency trading intensified on Monday, after bestselling author Michael Lewis published a new book, "Flash Boys: A Wall Street Revolt." The book contends that high-speed traders have rigged the stock market, profiting from trades made at a speed unavailable to ordinary investors.

Proponents of high-speed trading have criticized the book, saying high-speed traders actually benefit other investors by providing liquidity to the market".

http://finance.yahoo.com/news/sec-ne...191943259.html