Jai Alai arbitrage strategies

Daniel Lane and William T. Ziemba

Chapter 5 in Sports Analytics, 2022, pp 43-59 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This paper presents arbitrage and risk arbitrage betting strategies for Team Jai Alai. This game is the setting for the analysis and most results generalize to other sports betting situations and some financial market applications. The arbitrage conditions are utility free while the risk arbitrage wagers are constructed according to the Kelly criterion/capital growth theory that maximizes asymptotically long-run wealth almost surely.

Keywords: Sports Analytics; Statistical Analysis of Sports Decisions; NFL Football; Thoroughbred Racing; Basketball; Baseball; Hockey; Jai Alai; Optimal Betting Strategies; Mean Reversion Risk; Arbitrage; Decision Strategies by Coaches (search for similar items in EconPapers)
JEL-codes: C1 L83 Z2 (search for similar items in EconPapers)
Date: 2022
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