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This paper examines whether the outcome bias harms price efficiency in betting exchange markets. In soccer, the match outcome is an unreliable performance measure, as it underestimates the high level of randomness involved in the sport. If bettors overestimate the importance of past match...
Persistent link: https://www.econbiz.de/10012820013
In this paper, I examine market inefficiencies in the NFL betting market from the 2003 season through the 2016 season. I examine the impact that division rivals and previously known determinants of inefficiencies have on the current NFL gambling market. The results show that games against...
Persistent link: https://www.econbiz.de/10012870878
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
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...
Persistent link: https://www.econbiz.de/10014279650
increases in risk taking. Where we can separately identify changes in risk-independent performance and risk taking, our … increases in risk taking. These effects are concentrated among those closest to the margin of elimination and among lower …
Persistent link: https://www.econbiz.de/10011731884
markers for high-risk Internet gambling using a new casino data set of active real money Internet gamblers. We assess the … implemented. Further research leading to the identification of risk factors for problem gambling using new methodologies and data …
Persistent link: https://www.econbiz.de/10013091910
models is presented. Next, is a discussion of risk factors: credit cards; U.S. state money transmission laws; online and … fees and management time devoted to the discovery, examination and documentation of the perceived enterprise risk …-million-dollar research, investment and documentation of perceived e-commerce, cyber, IT, and electronic payment system risk. Hopefully, this …
Persistent link: https://www.econbiz.de/10012974064
useful for out-of-sample prediction. Nor do we find practical applications of Bernoulli functions in major risk …
Persistent link: https://www.econbiz.de/10012975977
The classical Uncertainty of Outcome Hypothesis (UOH) informs economists' understanding consumer decisions to attend sporting events and models of team revenue generation. Coates, Humphreys and Zhou (2014) developed a reference dependent preference based consumer choice model under uncertainty...
Persistent link: https://www.econbiz.de/10012976940
We provide evidence for heterogeneous consumer preferences for product quality and game outcome uncertainty (GOU) in Major League Baseball. Using attendance data from 2013 to 2019, we explore functional data clustering techniques to detect common patterns in predictive margins of team-specific...
Persistent link: https://www.econbiz.de/10012794169