Introduction to the Efficiency of Racetrack Betting Markets in England

Donald B. Hausch, Victor S. Y. Lo and William T. Ziemba
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Donald B. Hausch: University of Wisconsin-Madison, USA
Victor S. Y. Lo: University of British Columbia, Canada
William T. Ziemba: University of British Columbia, Canada

Chapter 51 in Efficiency of Racetrack Betting Markets, 2008, pp 529-531 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe parimutuel betting system utilizing electric tote boards is the dominant method of betting at Noah American racetracks. Under the parimutuel system, the win bet fractions may be interpreted as consensus subjective win probabilities provided by the public. In England, and in other Commonwealth countries, such as Australia and New Zealand and other European countries, such as Italy and France, the dominant system is the fixed-odds system where it is bookies who establish and offer the odds…

Keywords: Racetrack Efficiency; Racetrack Betting Market; Racetrack Betting; Win Market; Finance (search for similar items in EconPapers)
Date: 2008
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