Have Betting Exchanges Corrupted Horse Racing?

Alasdair Brown and Fuyu Yang
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Alasdair Brown: University of East Anglia

No 66, University of East Anglia Applied and Financial Economics Working Paper Series from School of Economics, University of East Anglia, Norwich, UK.

Abstract: Betting exchanges allow punters to bet on a horse to lose a race. This, many argue, has opened up the sport to a new form of corruption, where races will be deliberately lost in order to profit from betting. We examine whether anecdotal evidence of the fixing of horses to lose - of which there are many examples - is indicative of wider corruption. We build an asymmetric information model of exchange betting, and take it to betting data on 9,560 races run in 2013/14. We find no evidence of the widespread corruption of horse racing by the betting exchanges.

Date: 2014-10
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Journal Article: Have Betting Exchanges Corrupted Horse Racing? (2017)
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