This paper develops and estimates a model of college basketball teams' search for scoring opportunities, to provide a benchmark of the winning margin distributions that should arise if teams' only goal is to win. I estimate the model's structural parameters using first-half play-by-play data...

The extent of market efficiency induced by rational behaviour of market participants is central for economic research. Many economists have already examined sports-betting markets as a laboratory to better understand trading behaviour and efficiency of stock prices while avoiding to jointly test...

Sport betting is in Germany, like other public lotteries, strictly regulated as a state monopoly. This state monopoly has been declared as an illegitimate fiscal monopoly by the German Supreme Court (Bundesverfassungsgericht) in March 2006. Following this sentence, a state monopoly in future has...

Sports betting is growing rapidly in the US after its legalization by the Supreme Court in 2018. This paper describes the treatment of gambling winnings and losses in the federal tax code and shows how the system may incentivize some gamblers to substantially increase the scale of their betting...

If betting markets are efficient, then the expected loss rate on all bets on a game can be calculated from the quoted odds. Guides to sports betting tell bettors how to do this calculation of the predicted average loss rate. We show that if bookmakers set higher profit margins for bets with...

Online sports betting is growing rapidly around the world. We describe how the competitive structure of the bookmaking market affects odds when bettors disagree about the probabilities of the outcomes of sporting events but are on average correct. We show that the demand for bets on longshots is...

We describe how the presence of insiders with superior information about potential outcomes of sporting events affects odds set by bookmakers, using a generalized version of the model in Shin (1991). The model has been widely cited as an explanation for the pattern of favorite-longshot bias...

Research on sports betting markets has generally found a favorite-longshot bias, the empirical pattern for loss rates for bets on longshots to be higher than for favorites, which implies the odds do not reflect the underlying probabilities. The existing literature focuses largely on pari-mutuel...

The study sought to assess the impact of sports betting on the investment behaviour of Ghanaians, focusing on sports betting centres within the Accra Metropolis, Ghana. The objectives of this observational study were to determine how individuals perceive the risk of sports lotteries as opposed...

A large body of literature on the favorite-longshot bias finds that sports bettors in a variety of markets appear to have irrational biases toward either longshots (which offer a small chance of winning a large amount of money) or favorites (which offer a high chance of winning a small amount of...