Arbitrage Strategies for Cross-Track Betting on Major Horse Races

Donald B. Hausch and William T. Ziemba
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Donald B. Hausch: University of Wisconsin—Madison, USA
William T. Ziemba: University of British Columbia, Canada

Chapter 3 in Calendar Anomalies and Arbitrage, 2012, pp 99-116 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionEfficiency of the Various Betting MarketsInefficiency of the Win Market and the Risk-free Hedging ModelThe Optimal Capital Growth ModelTesting the One-Track Capital Growth ModelFinal DiscussionReferences

Keywords: Calendar Anomalies; Arbitrage; Stock Prices; Stock Returns; US Stock Market; Futures Markets; Betting; Trading Strategies; Sports Market; Lottery Market; Capital Growth Theory; Semi-Strong Market Efficiency; Speculative Investments; Index Futures; Factor Models Based on Fundamental Anomalies; Worldwide Stock Market Strategies (search for similar items in EconPapers)
Date: 2012
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