Retail Betting Markets

Scott Baker (), Justin Balthrop, Mark J. Johnson, Jason Kotter and Kevin Pisciotta

No 35520, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper examines the rapid expansion and convergence of retail betting markets. We analyze market design elements, discuss economic utility, and highlight shared behavioral drivers of sports betting markets, prediction markets, and retail options trading. Our review underscores how technological innovation, behavioral biases, and regulatory arbitrage have shaped recent market evolution. We highlight important considerations for policy-makers facing a changing landscape and outline possibilities for further research.

JEL-codes: G11 G4 G5 G50 K20 (search for similar items in EconPapers)
Date: 2026-07
Note: CF LE
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Published as Scott R. Baker & Justin Balthrop & Mark J. Johnson & Jason Kotter & Kevin Pisciotta, 2026. "Retail Betting Markets," Annual Review of Financial Economics, .

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