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Abnormal Returns of Soccer Teams : Reassessing the Informational Value of Betting Odds
Castellani, Massimiliano - 2018
We analyse the links between soccer match results, betting odds and stock returns of all listed European soccer teams. Using an event-study approach, we measure positive (negative) abnormal returns following wins (ties and losses). Additionally, we analyse the role, which we find to be...
Persistent link: https://www.econbiz.de/10012940301
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Event clustering and abnormal returns : reassessing the informational value of bets
Castellani, Massimiliano; Pattitoni, Pierpaolo; … - 2012 - This version: January 27, 2012
An avalanche of empirical studies has addressed the validity of the rank-size rule (or Zipf's law) in a multi-city context in many countries. City size in most countries seems to obey Zipf's law, but the question under which conditions (e.g. sample size, spatial scale) this 'law' holds remained...
Persistent link: https://www.econbiz.de/10011734266
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Do smoking bans always hurt the gaming industry? : differentiated impacts on the market value of casino firms in Macao
Zhang, Jing Hua; Tam, Kwo Ping; Zhou, Nan - 2016
The gaming economy has expanded rapidly in East Asia over the past decade. Despite the known public health hazards of secondhand smoking, smoking bans in casinos remain controversial due to concerns over the potential economic harm to casino firms. Applying an event study, the authors examine...
Persistent link: https://www.econbiz.de/10011557509
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Behavioral Biases in the NFL Gambling Market : Overreaction to News and the Recency Bias
Durand, Robert B. B.; Patterson, Fernando; Shank, Corey A. - 2021
This paper examines the recency bias and overreaction in the NFL betting market from 2003 to 2017. Consistent with the recency bias, bettors are more likely to bet on teams who have won previous outcomes. We add to the literature and find that the magnitude of prior wins and losses in the...
Persistent link: https://www.econbiz.de/10013223284
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How Do Financial Market Outcomes Affect Gambling?
Ramezani, Cyrus A. - 2022
the wealth effect of higher realized returns will increase gambling (enter-tainment good), but also attract gamblers to … (thrill and skewed payouts), butalso curtail gambling in response to growing economic uncertainty. Utilizing a novel horse wa … corporate bond spreads as a proxy for business cycles, we find gam-bling expenditures rise during recessions. Price of wagering …
Persistent link: https://www.econbiz.de/10013289577
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Do smoking bans always hurt the gaming industry? : differentiated impacts on the market value of casino firms in Macao (China)
Zhang, Jing Hua; Tam, Kwo Ping; Zhou, Nan - 2016
The gaming economy has expanded rapidly in East Asia during the past decade. Despite the public health hazards of Second Hand Smoking (SHS), smoking bans in casinos remain controversial due to concerns over potential economic losses for casino firms. Applying an event study method, the authors...
Persistent link: https://www.econbiz.de/10011473725
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Business Cycles, Stock Market Wealth and Gambling at the Racetracks
Ramezani, Cyrus A.; Ahern, James J. - 2023
We examine the impact of stock market wealth and business cycles on gambling. Rising stock market wealth is expected to … increase expenditures on entertainment goods, including gambling. Conversely, rising volatility is expected to draw betting … outlays to the stock markets. Gambling is also expected to rise during recessions. Utilizing a novel horse wagering data and a …
Persistent link: https://www.econbiz.de/10014254147
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Information salience, investor sentiment, and stock returns : the case of British soccer betting
Palomino, Frédéric (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003807045
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The Role of Surprise : Understanding Overreaction and Underreaction to Unanticipated Events using In-Play Soccer Betting Market
Choi, Darwin - 2014
Previous research in finance has found evidences of both overreaction and underreaction to unanticipated events, but has yet to explain why investors overreact to certain events while underreacting to others. In this paper, we hypothesize that while market participants generally underreact to...
Persistent link: https://www.econbiz.de/10013066560
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Gambling on the Stock Market : The Case of Bankrupt Companies
Coelho, Luis - 2009
market pricing implications of gambling-motivated trading. We find a strong, negative, and statistically significant post …
Persistent link: https://www.econbiz.de/10013155842