scholarly journals Parimutuel Betting on the Esports Duels: Reverse Favourite-Longshot Bias and Its Determinants

2019 ◽  
Author(s):  
Dmitry Dagaev ◽  
Egor Stoyan
Keyword(s):  
2013 ◽  
Vol 1 (3) ◽  
pp. 199-206
Author(s):  
William Hurley

Recently I competed in a club golf competition where there was organized parimutuel betting on the outcome. I made an ``across the board'' (ATB) bet of $20 on our team to win, place, and show. Subsequently I wondered whether this was the best thing to do. Hence, this paper examines the theory of an optimal ATB parimutuel bet. The goal is to develop principles that would guide such wagering when a bettor has only limited information about the sizes of the betting pools and the relative probabilities of finish of the various teams.


1988 ◽  
Vol 2 (2) ◽  
pp. 161-174 ◽  
Author(s):  
Richard H Thaler ◽  
William T Ziemba

Economists have given great attention to stock markets in their efforts to test the concepts of market efficiency and rationality. Yet wagering markets are, in one key respect, better suited for testing market efficiency and rationality. The advantage of wagering markets is that each asset (bet) has a well-defined termination point at which its value becomes certain. The absence of this property is one of the factors that has made it so difficult to test for rationality in the stock market. Since a stock is infinitely lived, its value today depends both on the present value of future cash flows and on the price someone will pay for the security tomorrow. Indeed, one can argue that wagering markets have a better chance of being efficient because the conditions (quick, repeated feedback) are those which usually facilitate learning. However, empirical research has uncovered several interesting anomalies. While there are numerous types of wagering markets, legal and otherwise, this column will concentrate on racetrack betting and lotto-type lottery games.


2017 ◽  
Vol 54 (3) ◽  
pp. 1335-1351 ◽  
Author(s):  
Niko Suhonen ◽  
Jani Saastamoinen ◽  
Mika Linden

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