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| Author: | Forrest, D. McHale, I. |
| Title: | Anyone for tennis (betting)? |
| Journal: | European Journal of Finance
2007 : OCT/DEC, VOL. 13:7-8, p. 751-768 |
| Index terms: | sports industry markets bias risk |
| Freeterms: | betting |
| Language: | eng |
| Abstract: | This paper uses a large data set on professional men's tennis matches and a new econometric approach to the estimation of the relationship btw. returns and odds. There is positive bias found throughout the range of odds. This finding is discussed in the context of the debate on why biases exist and persist in wagering markets, with a special focus on bettors' attitudes towards risk and skewness. |
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