Systematic and varying biases in parallel state contingent gambling markets

C-Tier

Journal: Economics Letters

Year: 2010

Volume: 109

Issue: 2

Pages: 82-84

Authors (3)

Johnson, J.E.V. (not in RePEc) Peel, D. (Lancaster University) Peirson, J. (University of Kent)

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

Pari-mutuel odds for longshots in UK horseraces exceed those offered by bookmakers. This effect is less for winning compared to losing horses and is explained by informed gamblers betting disproportionately with the pari-mutuel on winning horses.

Systematic and varying biases in parallel state contingent gambling markets

Authors (3)

Abstract

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