Lock! Risk-Free Arbitrage in the Japanese Racetrack Betting Market

Masahiro Ashiya ()

No 1301, Discussion Papers from Graduate School of Economics, Kobe University

Abstract: This paper finds that arbitrage was possible in two out of 175 Japanese thoroughbred races even after taking account of (a) the size of the minimum betting unit and (b) the negative effect of arbitrage on the odds. The guaranteed profits in these two races were 5,120 yen (about $64) and 340 yen.

Pages: 11pages
Date: 2013-01
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Lock! Risk-Free Arbitrage in the Japanese Racetrack Betting Market (2015)
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