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.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Volume (Year): 1 (2007) Issue (Month): 3 (November) Pages: 199-206 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF