The Economics of Sports Betting

Author: Brad R. Humphreys, Robert Simmons and Plácido Rodríguez Series: New Horizons in the Economics of Sport series

This unique book examines how sports betting markets function. 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.

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Summary

Description

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 themany' 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

About the Author

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