Lock! Risk-Free Arbitrage in the Japanese Racetrack Betting Market

Masahiro Ashiya ()

Journal of Sports Economics, 2015, vol. 16, issue 3, 322-330

Abstract: This article finds that arbitrage was possible in 2 of the 175 Japanese thoroughbred races even after taking account of (a) the size of the minimum betting unit and (b) the negative effect of arbitrage on the odds. The guaranteed profits in these two races were 5,120 yen (about US$64) and 340 yen.

Keywords: arbitrage; pari-mutuel; market efficiency; betting; wagering (search for similar items in EconPapers)
Date: 2015
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Working Paper: Lock! Risk-Free Arbitrage in the Japanese Racetrack Betting Market (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:16:y:2015:i:3:p:322-330

DOI: 10.1177/1527002513493630

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