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Internet Sports Books Operating in an Inefficient Marketplace

Listed author(s):
  • George Diemer

This research challenges widely accepted theories regarding sports gambling and the bookmaking industry. Specifically, the assertions by Strumpf (2003) and Levitt (2004) that risk-seeking bookmakers maximize profit rather than minimize exposure is tested. To do so, this research focuses on an area that few scholars have explored: internet sports books. A unique data set to analyze the dynamics of competition in NFL gambling industry is used along with a different estimation technique than other scholars have used: cluster analysis. The results of cluster analysis offer insight into the data structure. An alternate hypothesis regarding the workings of the industry are tested to better understand this data structure.

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Article provided by University of Buckingham Press in its journal Journal of Gambling Business and Economics.

Volume (Year): 3 (2009)
Issue (Month): 1 (April)
Pages: 1-22

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Handle: RePEc:buc:jgbeco:v:3:y:2009:i:1:p:1-22
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