A profitable strategy in the pelota betting market
Ver/
Fecha
2006Autor
Versión
Acceso abierto / Sarbide irekia
Tipo
Documento de trabajo / Lan gaiak
Impacto
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nodoi-noplumx
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Resumen
In pelota matches, games with two mutually exclusive and exhaustive outcomes, bets on the winner are made between viewers through a middleman who receives 16% of the finally paid amount. In this paper after the description of the way bets are made in the market we analyze what we call the general odds rule. Analyzing the way odds are fixed in the market we find that assuming equal return on bets ...
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In pelota matches, games with two mutually exclusive and exhaustive outcomes, bets on the winner are made between viewers through a middleman who receives 16% of the finally paid amount. In this paper after the description of the way bets are made in the market we analyze what we call the general odds rule. Analyzing the way odds are fixed in the market we find that assuming equal return on bets there are biases in the market. Moreover, we find profitable betting strategies even taking commissions into account. [--]
Materias
Betting,
Pelota betting system,
Sport betting,
Market efficiency
Serie
Documentos de Trabajo DE - ES Lan Gaiak /
0606
Departamento
Universidad Pública de Navarra. Departamento de Economía /
Nafarroako Unibertsitate Publikoa. Ekonomia Saila