. Following this sentence, a state monopoly in future has to maximize players’ protection and prevention of pathological gambling …

We explore the relationship between gambling and other forms of risk-taking behaviour, i.e. exposure to debt and the … Expenditure and Food Surveys (EFS), 2001 to 2007. Gambling and the use of credit are shown to be positively correlated at the … household level. While both the incidence and amount of gambling vary according to household income, the positive association …

who choose to gamble are likely to be larger than for the general population. Using UK data on gambling wins, other … those likely to be credit-onstrained. This is consistent with credit-constrained, risk-averse agents gambling to convexify …

(the favorite-longshot bias). I build a game theoretical model and show that the favorite-longshot bias is the equilibrium … play of the players with loss aversion, and that the degree of the favorite-longshot bias depends on the mental accounting …

There have been many attempts, theoretical and empirical, to explain the persistence of a favorite-longshot bias in … model used fails to allow for the existence of horse betting markets which either display no such bias (or a reverse bias …

In this paper, we test two different kinds of bias; the favorite-longshot/favorite-underdog and the home team bias, and … types of bias. We conduct our tests by subjecting 2001-2004 data for the AFL to detailed scrutiny, using standard … a bias, we test potential profitability via betting simulation. We are able to reject the existence of any significant …

phenomenon, called the favorite longshot bias, has many explanations such as risk seeking preference, transaction costs, and non … new explanation for the favorite longshot bias. We show that the bias exists in the absence of all above mentioned reasons …, and the degree of the bias differs depending on the type of the mental accounting process that bettors apply. …

The favorite-longshot bias describes the longstanding empirical regularity that betting odds provide biased estimates … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. …