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Cover image for Handbook of Sports and Lottery Markets [electronic resource].
Handbook of Sports and Lottery Markets [electronic resource].
ISBN:
9780080559957
Title:
Handbook of Sports and Lottery Markets [electronic resource].
Author:
Hausch, Donald B.
Personal Author:
Hausch, Donald B.
Publication Information:
Burlington : Elsevier Science, 2011.
Physical Description:
1 online resource (561 p.)
Series:
Handbooks in Finance
General Note:
Description based upon print version of record.
Contents:
Front Cover; Handbook of Sports and Lottery Markets; Copyright Page; Table of Contents; List of Contributors; Preface; Introduction to the Series; Part 1: Industry Studies; Chapter 1. Pari-Mutuel Horse Race Wagering-Competition from Within and Outside the Industry; 1. Introduction; 2. Competition from Casino Gaming; 3. Competition from State Lotteries; 4. Competition from Professional Sports; 5. Competition from Live Racing; 6. Competition from Simulcast Wagering; 7. Summary and Conclusions; References; Chapter 2. Modeling Money Bet on Horse Racesin Hong Kong; 1. Introduction

2. Variables Examined2.1. Outcome Variables; 2.2. Independent Variables; 3. Results and Discussion; 4. Conclusion; References; Appendix: 31 Independent Variables Examined; Part 2: Utility, Probability, and Pace Estimation; Chapter 3. Empirical Evidence on the Preferences of Racetrack Bettors; 1. Introduction; 2. Some Stylized Facts; 3. Expected Utility; 4. Distortions of Probabilities; 5. Reference Points and Asymmetric Probability Weights; 6. Heterogeneous Preferences; 7. Exotic Bets; 8. Concluding Remarks; References

Chapter 4. Approximating the Ordering Probabilities of Multi-Entry Competitions by a Simple Method1. Introduction; 2. Theoretical Results of the Limiting Cases; 3. A Simple Approximation; 3.1. Empirical Analysis for the Approximated Henery Model; 3.2. Empirical Analysis for the Stern Model; 4. Conclusion; References; Appendix: Proof of Theorem 1; Chapter 5. Modeling Distance Preference and Pace Character in Thoroughbred Turf Racing; 1. Background; 2. Case Study 1: Sha Tin (Hong Kong, SAR, PRC); 3. Case Study 2: Randwick (Sydney, Australia); 4. Qualitative Questions

4.1. Do Distance Specialists Exist?4.2. Pace, Class, and Time: The Central Paradox of Racing; 4.3. Jockeys: Distance or Pace Preference?; 5. Discussion; References; Part 3: Favorite-Longshot Bias in the Win Market; Chapter 6. The Favorite-Longshot Bias: An Overview of the Main Explanations; 1. Introduction; 2. Notation; 3. Misestimation of Probabilities; 4. Market Power by Informed Bettors; 5. Preference for Risk; 6. Heterogeneous Beliefs; 7. Market Power by Uninformed Bookmaker; 8. Limited Arbitrage; 9. Simultaneous Betting by Insiders; 10. Timing of Bets; 10.1. Early Betting

10.2. Late BettingReferences; Chapter 7. Examining Explanations of a Market Anomaly: Preferences or Perceptions?; 1. Introduction; 2. Preferences-Expected Utility Models with Linear Probabilities; 3. Perceptions-The Weighting of True Probabilities; 4. Perceptions-informational Effects; 5. Definition of Models and Implications for Combinatoric Bets; 6. Using Combinatoric Markets to Test the Models; 6.1. Testing Conditional Independence; 6.2. Relaxing Conditional Independence Further; 7. Conclusion; References; Appendix A: Pricing of Combinatoric Bets Using Conditional Independence

Appendix B: Data
Subject Term:
Gambling systems.

Lotteries.

Sports betting.

Sports betting. Lotteries. Gambling systems.
Added Author:
Ziemba, W. T.
Format:
Electronic Resources
Electronic Access:
Click here to view book
Publication Date:
2011
Publication Information:
Burlington : Elsevier Science, 2011.