An assessment of quasi-arbitrage opportunities in two fixed-odds horse-race betting markets

2005 ◽  
pp. 159-171 ◽  
Author(s):  
Michael A. Smith ◽  
David Paton ◽  
Leighton Vaughan Williams
Keyword(s):  
Horse Race ◽  
Arbitrage Opportunities ◽  
Betting Markets

Exploiting Expert Analysis? Evidence from Event Studies in an Information-Rich Market Environment

2013 ◽  
pp. 427-448
Author(s):  
Michael A. Smith
Keyword(s):  
Information Sources ◽  
Comprehensive Evaluation ◽  
Efficient Market Hypothesis ◽  
Event Studies ◽  
Horse Race ◽  
Information Efficiency ◽  
Arbitrage Opportunities ◽  
Betting Markets ◽  
Expert Analysis ◽  
Over Time

This chapter evaluates the record of media forecasters in selecting winners, with returns judged against the benchmark of information efficiency as specified in the efficient-market hypothesis, updating in particular prior analyses of the well-established Pricewise tipping column in the industry newspaper the Racing Post with a new and bigger dataset. Most notably, the analysis seeks to establish whether or not the feature’s previously impressive record had been maintained and to exploit new market information sources which permit insights into the dynamics of horse race betting markets over time to reveal the extent of arbitrage opportunities with respect to the Pricewise selections. This is used to permit a more comprehensive evaluation of the degree of information efficiency with respect to these “events.”

What Explains The Existence of an Exchange Overround?

2013 ◽  
pp. 275-297
Author(s):  
David Marginson
Keyword(s):  
United Kingdom ◽  
Market Efficiency ◽  
Positive Relationship ◽  
Microstructure Analysis ◽  
Horse Race ◽  
The United Kingdom ◽  
Betting Markets ◽  
Using Data ◽  
Starting Price

This chapter analyzes factors that may explain the existence and magnitude of starting price–based overrounds on Betfair, the leading and globally dominant person-to-person Internet betting site. Drawing on both finance and horse race betting literatures, several hypotheses are developed and tested, using data on 2,184 horse races in the United Kingdom between 2008 and 2010. Results are discussed and explanations offered for the findings, such as a positive relationship between grade of race and Betfair overround (the higher the grade, the higher the overround). More broadly, this research suggests that microstructure analysis of order-driven betting markets, such as Betfair, constitutes a fruitful line of enquiry for those interested in understanding market efficiency.

scholarly journals New entry, strategic diversity and efficiency in soccer betting markets: the creation and suppression of arbitrage opportunities

2018 ◽  
Vol 24 (18) ◽  
pp. 1799-1816
Author(s):  
Andrew Grant ◽  
Anastasios Oikonomidis ◽  
Alistair C. Bruce ◽  
Johnnie E. V. Johnson
Keyword(s):  
Arbitrage Opportunities ◽  
Betting Markets ◽  
The Creation ◽  
New Entry

Forecasting horse race outcomes: New evidence on odds bias in UK betting markets

2010 ◽  
Vol 26 (3) ◽  
pp. 543-550 ◽  
Author(s):  
Michael A. Smith ◽  
Leighton Vaughan Williams
Keyword(s):  
Horse Race ◽  
Betting Markets ◽  
New Evidence

Which Way Does the Horse Race? Biases in Figure Depiction

2012 ◽  
Author(s):  
Belem G. Lopez ◽  
Sumeyra Tosun ◽  
Jyotsna Vaid
Keyword(s):  
Horse Race
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