Cross-Track Betting: Is the Crass Greener on the Other Side ?

Siew Meng Leong and Kian Guan Lim

Chapter 62 in Efficiency of Racetrack Betting Markets, 2008, pp 617-629 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThis paper reports he results of an empirical study on cross-mck betting based on a sample of about 10,000 horses from 867 races in Singapore and Malaysia. Statistical test shows that the usual favorite-longshot bias exists at both the home and cross tracks. Arbitrage profit was possible in 13 races. The paper also shows that by employing a stylized version of the Kelly criterion as suggested by Hausch and Ziemba (1990a). Using simultaneous home and cross mck information on dividends, positive returns can be made. Implications of these results are discussed and directions for future research suggested.

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