Place returns between the tote and bookmakers: empirical evidence of a market anomaly

D. Law, David Peel and M. Cain

Applied Economics Letters, 1999, vol. 6, issue 12, 789-792

Abstract: This letter examines the relationship between returns to win and place betting between the tote and bookmakers when explicit allowance is made for the degree of insider trading employing the Shin measure. The results are not readily reconcilable with market efficiency.

Date: 1999
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DOI: 10.1080/135048599352178

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