Handbook of Sports and Lottery Markets
Donald B. Hausch, W.T. Ziemba
Elsevier, Aug 11, 2011 - Business & Economics - 560 pages
Its basic empirical research and investigation of pure theories of investment in the sports and lottery markets make this volume a winner. These markets are simpler to study than traditional financial markets, and their expected values and outcomes are uncomplicated. By means of new overviews of scholarship on the industry side of racetrack and other betting markets to betting exchanges and market efficiencies, contributors consider a variety of sports in countries around the world. The result is not only superior information about market forecasting, but macro- and micro-analyses that are relevant to other markets.
* Easily studied sports markets reveal features relevant for more complex traditional financial markets
* Significant coverage of sports from racing to jai alai
* New studies of betting exchanges and Internet wagering markets
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Utility Probability and Pace Estimation
FavoriteLongshot Bias in the Win Market
Weak Market Efficiency
SemiStrong Form Efficiency
analysis approximation arbitrage average behavior Belmont Stakes Betfair betting exchanges betting strategies bettors biases bookmaker competition D. B. Hausch dataset distribution draw dual qualifier effect Equation estimated evidence exacta expected return favorite favorite-longshot bias Figure Football forecast gamblers gambling HANDBOOK OF SPORTS horse race horse race betting horse’s jackpot Journal of Political Kentucky Derby longshot LOTTERY MARKETS lotto games market efficiency match offered options outcomes overround pari-mutuel payoff point spread pool positive Powerball prediction markets prize probability of winning profit public’s put options quinella race betting markets Racetrack Betting Markets regression risk risk arbitrage risk-loving rollover sample scored significant soccer SPORTS AND LOTTERY sports betting spread betting Stakes statistical studies Table theory thoroughbred ticket tipsters track take trading transaction costs utility function variable Vaughan Williams W. T. Ziemba eds wagering wealth win probabilities winners