The Economics of Gambling

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Format: Hardcover
Pub. Date: 2002-12-23
Publisher(s): Routledge
List Price: $225.00

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Summary

With the liberalisation of gambling laws across many countries of the world, there is an increasing need for a study into gambling's most important factor - its economics. This collection of original contributions drawn from such leading experts as Joseph Golec, Stephen Creigh-Tyte and Donald Siegel covers such interesting themes as: betting at racecourses over-under betting in National League football games national lotteries and lottery fatigue demand for gambling economic impact of Indian casino gambling This timely and comprehensive book covers all the bases of the economics of gambling and is a valuable and important contribution to the ongoing and growing debates.The Economics of Gamblingwill be of use to academics and advanced students of applied, industrial and mathematical economics as well as of being vital reading for those involved in the gambling industry.

Table of Contents

List of figures
vii
List of tables
ix
List of contributors
xiii
Introduction
1(1)
Leighton Vaughan Williams
The favourite--longshot bias and the Gabriel and Marsden anomaly: an explanation based on utility theory
2(12)
Michael Cain
David Peel
David Law
Is the presence of inside traders necessary to give rise to a favorite--longshot bias?
14(4)
Adi Schnytzer
Yuval Shilony
Pari-mutuel place betting in Great Britain and Ireland: an extraordinary opportunity
18(12)
David Jackson
Patrick Waldron
Betting at British racecourses: a comparison of the efficiency of betting with bookmakers and at the Tote
30(13)
John Peirson
Philip Blackburn
Breakage, turnover, and betting market efficiency: new evidence from Japanese horse tracks
43(24)
W. David Walls
Kelly Busche
The impact of tipster information on bookmakers' prices in UK horse-race markets
67(13)
Michael A. Smith
On the marginal impact of information and arbitrage
80(15)
Adi Schnytzer
Yuval Shilony
Richard Thorne
Covariance decompositions and betting markets: early insights using data from French trotting
95(11)
Jack Dowie
A competitive horse-race handicapping algorithm based on analysis of covariance
106(8)
David Edelman
Efficiency in the handicap and index betting markets for English rugby league
114(21)
Robert Simmons
David Forrest
Anthony Curran
Efficiency of the over--under betting market for National Football League games
135(10)
Joseph Golec
Maurry Tamarkin
Player injuries and price responses in the point spread wagering market
145(20)
Raymond D. Sauer
Is the UK National Lottery experiencing lottery fatigue?
165(17)
Stephen Creigh-Tyte
Lisa Farrell
Time-series modelling of Lotto demand
182(22)
David Forrest
Reconsidering the economic impact of Indian casino gambling
204(20)
Gary C. Anders
Investigating betting behaviour: a critical discussion of alternative methodological approaches
224(23)
Alistair Bruce
Johnnie Johnson
The demand for gambling: a review
247(18)
David Paton
Donald S. Siegel
Leighton Vaughan Williams
Index 265

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