In this paper, a survey is undertaken of studies that examines the extent to which systematic patterns of behaviour in betting markets can generate above-average or even abnormal returns, the latter being most conveniently defined for these purposes as a profit. The paper concludes that although betting markets do tend to process efficiently the information available to them, there are clear opportunities to earn above-average returns. Moreover, there is significant evidence that some bettors are able to profit by withholding and subsequently utilising superior information.
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.
Publisher Info
Article provided by World Economics, Economic & Financial Publishing, PO Box 69, Henley-on-Thames, Oxfordshire, United Kingdom, RG9 1GB in its journal World Economics Journal.
Volume (Year): 2 (2001) Issue (Month): 1 (January) Pages: 31-48 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:wej:wldecn:45
Contact details of provider:
For technical questions regarding this item, or to correct its listing, contact: (Ed Jones).