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Anomalies In The Gambling Market

In: Efficiency Of Racetrack Betting Markets

Author

Listed:
  • R. H. TUCKWELL

    (Macquarie University, Australia)

Abstract

Apparent irregularities between the win and the place betting markets in Australian horseracing are examined. Win odds are used to predict win probabilities from which place probabilities are estimated and compared with the place odds on offer. It is concluded that anomalies do in fact exist and are capable, in theory at least, of profitable exploitation.

Suggested Citation

  • R. H. Tuckwell, 2008. "Anomalies In The Gambling Market," World Scientific Book Chapters, in: Donald B Hausch & Victor SY Lo & William T Ziemba (ed.), Efficiency Of Racetrack Betting Markets, chapter 58, pages 583-591, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812819192_0058
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