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Modeling Consumers' Participation in Gambling Markets and Frequency of Gambling
Humphreys, Brad; Lee, Yang Seung; Soebbing, Brian P. - In: Journal of Gambling Business and Economics 5 (2011) 1, pp. 1-22
Survey data on participation in gambling typically contain many zeros. The presence of many zeros presents … methodological problems for the analysis of participation in gambling markets and gambling expenditure. The most common techniques … for handling zeros in gambling data have been the Tobit estimator and the Heckman selectivity estimator. Recent research …
Persistent link: https://www.econbiz.de/10010850168
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Revisting the "Hot Hand" Hypothesis in the NBA Betting Market Using Actual Sportsbook Betting Percentages on Favorites and Underdogs
Paul, Rodney; Weinbach, Andrew; Humphreys, Brad - In: Journal of Gambling Business and Economics 5 (2011) 2, pp. 42-56
The “hot hand” hypothesis was first investigated in sports betting markets by Camerer (1989) and Brown and Sauer (1993), who examined if professional basketball teams truly could become “hot”, implying a change in their actual skill level, and if the betting market believes teams become...
Persistent link: https://www.econbiz.de/10010850169
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The Luck of the Texan: An Empirical Analysis of Texas Lottery Games
II, Craig A. Depken; Dorasil, Paul R. - In: Journal of Gambling Business and Economics 1 (2007) 3, pp. 171-184
This paper provides an empirical analysis of the relationships between three popular lottery games in the state of Texas: Lotto Texas, Texas Two Step, and the multi-state Mega Millions game. The analysis suggests complementarity between the Lotto Texas and Mega Millions; habitual players tend to...
Persistent link: https://www.econbiz.de/10005256318
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Further Analysis of the Markowitz Model of Utility with a Small Degree of Probability Distortion
Peel, David A.; Law, David - In: Journal of Gambling Business and Economics 2 (2008) 3, pp. 71-83
degree of probability distortion required to explain gambling on long shots in Cumulative Prospect Theory appears problematic …
Persistent link: https://www.econbiz.de/10005256327
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Informed Choice and Gambling: Principles for Consumer Protection
Blaszczynski, Alex; Ladouceur, Robert; Nower, Lia; … - In: Journal of Gambling Business and Economics 2 (2008) 1, pp. 103-118
It is well-established that problem gambling results, in part, from erroneous perceptions about the probability of … winning. While individuals retain the ultimate responsibility over gambling choices and level of participation, optimal … sufficient information to enable them to make responsible gambling choices. This paper reviews key decision-making models and …
Persistent link: https://www.econbiz.de/10005256332
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The Relationship Between a National and a Multistate Lotto Game
Forrest, David; McHale, Ian - In: Journal of Gambling Business and Economics 1 (2007) 3, pp. 207-216
The United Kingdom National Lottery is a member of a lottery block that offers a weekly lotto game, known as EuroMillions, for which tickets are now sold across nine countries. The paper examines whether the game has cannibalised sales in the pre-existing national lotto game and whether, with...
Persistent link: https://www.econbiz.de/10005256334
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Gamblers' Love for Variety and Substitution among Lotto Games
Matheson, Victor; Grote, Kent - In: Journal of Gambling Business and Economics 1 (2007) 2, pp. 85-99
This paper considers the whether offering multiple lotto games within a state by joining a multi-state lottery increases total ticket sales compared to offering a single state game. The question is considered from two different perspectives, which both lead to the conclusion that states do tend...
Persistent link: https://www.econbiz.de/10005256340
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Wagering in Australia: A Retrospective Behavioural Analysis of Betting Patterns Based on Player Account Data
Gainsbury, Sally; Sadeque, Saalem; Mizerski, Dick; … - In: Journal of Gambling Business and Economics 6 (2012) 2, pp. 50-68
Gambling research often relies on self-report and cross-sectional data which is limited by inaccuracies in recall …. Analysis of behavioural data is necessary to advance conceptual understandings of gambling. This paper analysed player account … gamblers can be identified and appropriately targeted with player education and responsible gambling strategies. …
Persistent link: https://www.econbiz.de/10010611894
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A Comparison of Simultaneous Kelly Betting Strategies
Grant, Andrew; Buchen, Peter W. - In: Journal of Gambling Business and Economics 6 (2012) 2, pp. 1-28
In this paper we consider the problem of Kelly betting on simultaneous games, and the relative performance of betting strategies that use multibets compared to those that do not. We develop a simulation model based on the Dirichlet distribution to test the performance of three Kelly betting...
Persistent link: https://www.econbiz.de/10010611896
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A Model for Estiamting the Probabilities of Soccer Game Results
Ben-David, Nissim - In: Journal of Gambling Business and Economics 4 (2010) 3, pp. 13-19
In this paper, using Israeli soccer tournament results from 2009/2010 and an ordered dependent estimation model I calculated for each team, in each game played during the season, the a priori probability of a win, loss or a tie as a function of lag performance. Given these probabilities, the...
Persistent link: https://www.econbiz.de/10010611901