explanation for the pattern of favorite-longshot bias observed in fixed-odds betting markets. We show that disagreement among … on the ratio of favorite to longshot odds and the betting market collapses if this fraction rises above low levels. …

Research on sports betting markets has generally found a favorite-longshot bias, the empirical pattern for loss rates …. The existing literature focuses largely on pari-mutuel betting but favorite-longshot bias is also evident in fixed …-odds online betting markets of the type that are growing rapidly around the world. Explanations for this bias in previous work on …

This paper examines whether sports betting markets are semistrong-form efficient—i.e., whether new information is … rapidly and completely incorporated into betting prices. We use the news of ghost matches in the top European football leagues … field advantage is reduced, and we test whether this information is fully reflected in betting prices. Our results show that …

We analyze the effect of taxation in the online sport betting market. A relevant characteristic of this market is its …). We model the two most popular online sport betting bets: fixed-odds and spread, as compared with another traditional … sport betting: parimutuel. We characterize the odds and the bookmaker’s payoff in (strong) subgame perfect equilibrium for …

longshot bias is dominant, favorite bias has also now been found in a variety of sports betting markets. This review proposes … that the evidence is consistent with both biases being present in the average sports bettor. Sports betting markets with …. Sports betting markets with multiple outcomes, where the favorite's probability is usually <0.5, appear more consistent with …