Overview

This unique book examines how sports betting markets function. Charting recent international developments, expert contributors consider how both bookmakers and stakeholders view these changes, their prime areas of concern and the potential methods for addressing them. Providing a rigorous economic analysis throughout, this book examines the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports. Against this background, chapters explore pertinent questions such as: should gambling markets be privatized? Is the `hot hand' hypothesis real or a myth? Are the `many' smarter than the `few' in estimating betting odds? How are prices set in fixed odds betting markets? Chapters also review important policy concerns such as the health implications posed by the potential link between the accelerating popularity of sports betting and the decline in sports participation. Academics and students studying economics, sports economics and, more specifically, sports betting will find this book an engaging companion. Contemporary and up to date, it will also appeal to stakeholders looking to widen their professional insight. Contributors include: B. Buraimo, X. Che, S. Dobson, A. Feddersen, D. Forrest, J. García, J. Goddard, K. Grote, B. Humphreys, V. Matheson, R. Paul, D. Peel, L. Pérez, P. Rodríguez, J. Ruseski, R. Simmons, P. Westmoreland, A. Weinbach, R. Wheeler, J. Yang

Full Product Details

Author:   Plácido Rodríguez ,  Brad R. Humphreys ,  Robert Simmons
Publisher:   Edward Elgar Publishing Ltd
Imprint:   Edward Elgar Publishing Ltd
Dimensions:   Width: 15.60cm , Height: 1.80cm , Length: 23.40cm
Weight:   0.466kg
ISBN:  

9781785364549

ISBN 10:   1785364545
Pages:   224
Publication Date:   28 July 2017
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.

Table of Contents

Contents: Introduction 1. Consumer Spending on Spectator Sports, Physical Activity, and Sports Betting: Evidence from Canada Brad R. Humphreys, Jane E. Ruseski and Jie Yang 2. Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States Kent R. Grote and Victor A. Matheson 3. Price Setting and Competition in Fixed Odds Betting Markets Xiaogang Che, Arne Feddersen and Brad R. Humphreys 4. Evaluating Probabilities for a Football In-play Betting Market Stephen Dobson and John Goddard 5. Forecasting Football Match Results: Are the Many Smarter Than the Few? Jaume García, Levi Pérez and Plácido Rodríguez 6. New Empirical Evidence on the Tote-SP Anomaly and its Implications for Models of Risky Choice in Gambling Markets Babatunde Buraimo, David Peel and Robert Simmons 7. Market Efficiency and the Favorite-longshot Bias: Evidence from Handball Betting Markets Arne Feddersen 8. Hot Arms and the Hot Hand: Bettor and Sportsbook Reaction to Team and Pitcher Streaks in Major League Baseball Rodney Paul and Andrew Weinbach 9. Investigating the “Hot hand” Hypothesis: An Application to European Football Rob Simmons and Rhys Wheeler 10. Sports Corruption and Developments in Betting Markets David Forrest Index

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Author Information

Edited by Plácido Rodríguez, University of Oviedo, Spain, Brad R. Humphreys, Department of Economics, West Virginia University, US and Robert Simmons, Lancaster University Management School, UK

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