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I find that the optimal price of a bet for a risk-averse bookmaker is a function of elasticity of demand and the number of outcomes of the betting event. In the presence of shocks to the order flow, however, the optimal price can change, and large adjustments can create arbitrage opportunities...
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With the passage of the Internet Gambling Ban of 2006, Congress envisioned a complete prohibition on online poker and … online gambling in general. Instead, this hastily passed law has created more confusion than it has cured. By failing to … acknowledge jurisdictional problems associated with this law, Congress has left several loopholes that allow online gambling to …
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