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- W1966657163 abstract "Simulcast wagering, where bets from across the country are taken at tracks, off‐track betting facilities, casinos, by phone or online and incorporated into the same mutuel pool, has contributed to a large increase in betting volume on American horse races since the mid‐1990s. This article investigates betting‐market efficiency in the simulcast era focusing on whether the interrelated betting markets comprised of win, place (finishing in the top two), and show (finishing in the top three) wagering are efficiently priced. We find that the increased accessibility and betting volume associated with simulcasting has reduced, but not eliminated, the inefficiencies seen in prior studies. Despite the inefficiencies in these markets, arbitrage is not profitable because market closing prices are unknown when bets are placed." @default.
- W1966657163 created "2016-06-24" @default.
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- W1966657163 date "2006-04-01" @default.
- W1966657163 modified "2023-10-18" @default.
- W1966657163 title "Efficiency in Pari‐Mutuel Betting Markets across Wagering Pools in the Simulcast Era" @default.
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- W1966657163 doi "https://doi.org/10.1002/j.2325-8012.2006.tb00746.x" @default.
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