Parimutuel betting markets: racetracks and lotteries revisited

William Ziemba

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper surveys the state of the art in research in racetrack and lottery markets. Market efficiency and the pricing of various wagers is studied along with new developments since the Thaler and Ziemba JEP review. Other sports betting markets are also discussed. The role of syndicates, betting exchange rebates, behavioral biases and fundamental information is discussed.

Keywords: parimutuel betting markets; eciency of racetrack betting markets; lottery strategies; favorite-longshot bias (search for similar items in EconPapers)
JEL-codes: C02 C50 C79 D81 G11 G14 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2020-09-22
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:118873

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