IDEAS home Printed from https://ideas.repec.org/a/buc/jgbeco/v1y2007i3p199-206.html
   My bibliography  Save this article

Across-the-board Parimutuel Bets

Author

Listed:
  • W.J. Hurley

    (Royal Military College of Canada)

Abstract

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.

Suggested Citation

  • W.J. Hurley, 2007. "Across-the-board Parimutuel Bets," Journal of Gambling Business and Economics, University of Buckingham Press, vol. 1(3), pages 199-206, November.
  • Handle: RePEc:buc:jgbeco:v:1:y:2007:i:3:p:199-206
    as

    Download full text from publisher

    File URL: http://www.ubplj.org/index.php/jgbe/article/view/520
    Download Restriction: no

    References listed on IDEAS

    as
    1. John J. Siegfried & Andrew Zimbalist, 2000. "The Economics of Sports Facilities and Their Communities," Journal of Economic Perspectives, American Economic Association, pages 95-114.
    2. Dennis Coates & Brad R. Humphreys, 1999. "The growth effects of sport franchises, stadia, and arenas," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 18(4), pages 601-624.
    3. Robert Baade & Robert Baumann & Victor Matheson, 2006. "The Economic Consequences of Professional Sports Strikes and Lockouts: Revisited," Working Papers 0604, College of the Holy Cross, Department of Economics.
    4. Robert Baade & Robert Baumann & Victor Matheson, 2005. "Selling the Big Game: Estimating the Economic Impact of Mega-Events through Taxable Sales," Working Papers 0510, College of the Holy Cross, Department of Economics.
    5. Robert Baade & Victor Matheson, 2005. "Have public finance principles been shut out in financing new sports facilities in the United States?," IASE Conference Papers 0527, International Association of Sports Economists.
    6. Dennis Coates & Brad R. Humphreys, 2002. "The Economic Impact of Postseason Play in Professional Sports," Journal of Sports Economics, , vol. 3(3), pages 291-299, August.
    7. Robert A. Baade & Victor A. Matheson, 2001. "Home Run or Wild Pitch?," Journal of Sports Economics, , vol. 2(4), pages 307-327, November.
    8. Dennis Coates & Brad R. Humphreys, 2001. "The Economic Consequences of Professional Sports Strikes and Lockouts," Southern Economic Journal, Southern Economic Association, vol. 67(3), pages 737-747, January.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:buc:jgbeco:v:1:y:2007:i:3:p:199-206. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross). General contact details of provider: http://www.ubpl.co.uk/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.