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Kelly betting on horse races with uncertainty in probability estimates

Metel, Michael R. - In: Decision analysis : a journal of the Institute for … 15 (2018) 1, pp. 47-52

Persistent link: https://www.econbiz.de/10011848665

The economics of gambling and national lotteries

Vaughan Williams, Leighton - 2012

(2), March, 139-47 -- Donald S. Elliott and John C. Navin (2002), 'Has Riverboat Gambling Reduced State Lottery Revenue … "Gambler's Fallacy" in Lottery Play', Management Science, 39 (12), December, 1521-5 -- Jonathan Guryan and Melissa S. Kearney … (2008), 'Gambling at Lucky Stores: Empirical Evidence from State Lottery Sales', American Economic Review, 98 (1), March …

Persistent link: https://www.econbiz.de/10011852213

Does betting experience matter in sequential risk taking in horse race wagering?

Saastamoinen, Jani; Suhonen, Niko - In: Economics and Business Letters : EBL 7 (2018) 4, pp. 137-143

Persistent link: https://www.econbiz.de/10012129216

Misperception explains favorite-longshot bias : evidence from the Finnish and Swedish harness horse race markets

Koivuranta, Matti; Korhonen, Marko - In: Empirical economics : a journal of the Institute for … 57 (2019) 6, pp. 2149-2160

Persistent link: https://www.econbiz.de/10012215968

On the efficiency of racetrack betting market : a new test for the favourite-longshot bias

Jeong, Jinook; Kim, Jee Young; Ro, Yoon Jae - In: Applied economics 51 (2019) 54, pp. 5817-5828

Persistent link: https://www.econbiz.de/10012197282

Are sports bettors biased toward longshots, favorites, or both? : a literature review

Newall, Philip W. S.; Cortis, Dominic - In: Risks : open access journal 9 (2021) 1/22, pp. 1-9

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...

Persistent link: https://www.econbiz.de/10012423111

Parimutuel betting markets : racetracks and lotteries revisited

Ziemba, William T. - 2020

Persistent link: https://www.econbiz.de/10012317093

Preface to : Efficiency of Racetrack Betting Markets (2008 Edition)

Hausch, Donald B.; Ziemba, William T.; Lo, Victor S. - 2009

A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of...

Persistent link: https://www.econbiz.de/10014204215

Estimating Preferences Under Risk : The Case of Racetrack Bettors

Jullien, Bruno; Salanie, Bernard - 1998

We investigate in this paper the attitudes toward risk of bettors in British horse races. The model we use allows us to go beyond the expected utility framework and to explore various alternative proposals by estimating a multinomial model on a 34443-race data set. We find that rank-dependent...

Persistent link: https://www.econbiz.de/10014217895

When Disclosure Isn’t Enough : Evidence on Cursedness in Betting Markets

Bernard, Darren; Kapparov, Madi; Toynbee, Sara; Wertz, John - 2022

The SEC recently proposed new restrictions and expanded disclosures to combat insider trading abuses. We examine the effects of analogous regulatory interventions related to ownership sales in thoroughbred horse betting, a market with numerous parallels to capital markets. Drawing on the...

Persistent link: https://www.econbiz.de/10014236767