haku: @all betting / yhteensä: 70
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| Tekijä: | Edelman, D.C. O'Brian, N.R. |
| Otsikko: | Tota arbitrage and lock opportunities in racetrack betting |
| Lehti: | European Journal of Finance
2004 : OCT, VOL. 10:5, p. 370-378 |
| Asiasana: | Arbitrage Gambling industry |
| Vapaa asiasana: | Dutch book Lock Minimax Pari-mutuel Zero-sum game |
| Kieli: | eng |
| Tiivistelmä: | The article describes the game-theoretic approach to the investigation of arbitrage opportunities based on combinations of exotic wagers. The situation is also known as 'Dutch Book' or a 'lock'. The technique is applied to recent totalizator data from Australian thoroughbred races. It appears that such opportunities come fairly regularly, at least according to published final dividends for various bet types. The method is demonstrated in some detail on a particular example. |
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