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Gamblers' rationality in parimutuel soccer betting: Strategisches Spielverhalten bei Totalisatorspielen mit nicht-gleichwahrscheinlichen Spielausgängen wie Toto und Torwette

Hauser, Ursula; König, Ulrich; Krylova, Elizaveta - 2000

Wir entwickeln ein Modell für strategisches Spielverhalten bei Glücksspielen nach dem Totalisatorprinzip und wenden es auf die Fußballwettspiele Toto und Torwette an. Unter der Annahme, dass Buchmacherquoten die wahren Ausgangswahrscheinlichkeiten der betreffenden Fußballspiele reflektieren,...

Persistent link: https://www.econbiz.de/10010292739

Against all odds? : national sentiment and wagering on European football

Braun, Sebastian (contributor); … - 2008

This paper studies how national sentiment in the form of either a perception or a loyalty bias of bettors may affect pricing patterns on national wagering markets for international sport events. We show theoretically that both biases can be profitably exploited by bookmakers by way of price...

Persistent link: https://www.econbiz.de/10003726416

Expert analysis and insider information in horserace betting : regulating informed market behavior

Peirson, John (contributor); Smith, Michael A. (contributor) - 2008

We present a new model analyzing the effect of uncertainty faced by bookmakers. It is shown that bettors with inside information or expert analysis decrease the odds set by profit maximizing bookmakers. Data on previously unraced two year old horses and those that have raced previously are used...

Persistent link: https://www.econbiz.de/10003784959

Expert analysis and insider information in horse race betting : regulating informed market behavior

Peirson, John; Smith, Michael A. - In: Southern economic journal 76 (2010) 4, pp. 976-992

Persistent link: https://www.econbiz.de/10008701389

Gamblers' rationality in parimutuel soccer betting : strategisches Spielverhalten bei Totalisatorspielen mit nicht-gleichwahrscheinlichen Spielausgängen wie Toto und Torwette

Hauser-Rethaller, Ursula; König, Ulrich; Krylova, Elizaveta - 2000

making under risk and uncertainty ; parimutuel betting ; sports ; gambling …

Persistent link: https://www.econbiz.de/10009724436

Local Price Variation and the Tax Incidence of State Lotteries

Garrett, Thomas A. - 2011

This paper explores the seemingly innocuous practice of ignoring the local price vector in empirical models of lottery demand. We argue using consumer theory that local consumption prices should be included and that the failure to consider local prices results in income elasticity of lottery...

Persistent link: https://www.econbiz.de/10013132820

Career Lotto : Labor Supply in Winner-Take-All Markets

Grove, Wayne A. - 2019

Are people prone to selecting occupations with highly skewed income distributions despite minuscule chances of success? Assembling a comprehensive pool of potential teenage entrants into professional tennis (a typical winner-take-all market), we construct objective measures of relative ability...

Persistent link: https://www.econbiz.de/10012894561

Underestimating randomness: Outcome bias in betting exchange markets

Merz, Oliver; Flepp, Raphael; Franck, Egon - 2021

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

NFL Betting Market Efficiency, Divisional Rivals, and Profitable Strategies

Shank, Corey A. - 2019

gambling market. The results show that games against division rivals have a lower chance of the home team covering the spread …

Persistent link: https://www.econbiz.de/10012870878

When Saving is Gambling

Cookson, J. Anthony - 2020

— attempt to encourage savings by appealing to households' gambling preferences. I introduce new data on casino cash withdrawals … to measure gambling, and examine how individual gambling expenditures respond to the introduction of PLS in Nebraska … gambling by at least 3% more than unaffected individuals. The substitution effect is stronger in low-frills gambling …

Persistent link: https://www.econbiz.de/10012856473

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