Soccer Punters - Who Bets and Which Bias Is Produced PDF Download
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Author: Farshid Bröker
Publisher: GRIN Verlag
ISBN: 3656184038
Category : Business & Economics
Languages : en
Pages : 77
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Book Description
Master's Thesis from the year 2012 in the subject Economics - Micro-economics, grade: 1,3, Frankfurt School of Finance & Management, language: English, abstract: The online sports betting markets industry has been gaining in popularity worldwide during the last decade. The Internet gives punters faster access to their bookmaker and lets them easily compare the odds of many different bookmakers. Furthermore, many online gambling sites offer a wide range of different sports events and specialized bets for their customers. Nowadays it is not only possible to bet on the final outcome of a soccer match, but even on the half-time result or the amount of goals scored during the match. The betting exchange betfair makes it possible to bet against a certain outcome, meaning the punter can act as a bookmaker for a chosen event. Betting on outcomes of soccer matches is very interesting with regard to probability theory because it is based on a numerical code: 0 for a draw, 1 if the home team wins and 2 if the home team loses. Therefore many textbooks on combinatorics consider soccer bets to be a prime example for probability theory. H. Matthes and H. Küchenhoff claim that soccer bets are a great example for the so-called subjective probability, which they define as the degree of confidence with which an observer believes in the occurrence of a certain event based on the information he currently has. P(A) would be the maximum amount in EUR that he is willing to risk if he receives exactly EUR 1 on the occurrence of A. For a bookmaker this would mean that his odd for a certain event will not exceed 2 if he believes that the probability of its occurrence is 50%. Hence, odds that are offered by a bookmaker on the occurrence of a certain result reflect his individual estimation regarding the probability of the occurrence of the given result. Of course, bookmakers can be wrong. If it were possible to identify a pattern for their mistakes, this would help in exploiting them. Furt
Author: Farshid Bröker
Publisher: GRIN Verlag
ISBN: 3656184038
Category : Business & Economics
Languages : en
Pages : 77
Get Book Here
Book Description
Master's Thesis from the year 2012 in the subject Economics - Micro-economics, grade: 1,3, Frankfurt School of Finance & Management, language: English, abstract: The online sports betting markets industry has been gaining in popularity worldwide during the last decade. The Internet gives punters faster access to their bookmaker and lets them easily compare the odds of many different bookmakers. Furthermore, many online gambling sites offer a wide range of different sports events and specialized bets for their customers. Nowadays it is not only possible to bet on the final outcome of a soccer match, but even on the half-time result or the amount of goals scored during the match. The betting exchange betfair makes it possible to bet against a certain outcome, meaning the punter can act as a bookmaker for a chosen event. Betting on outcomes of soccer matches is very interesting with regard to probability theory because it is based on a numerical code: 0 for a draw, 1 if the home team wins and 2 if the home team loses. Therefore many textbooks on combinatorics consider soccer bets to be a prime example for probability theory. H. Matthes and H. Küchenhoff claim that soccer bets are a great example for the so-called subjective probability, which they define as the degree of confidence with which an observer believes in the occurrence of a certain event based on the information he currently has. P(A) would be the maximum amount in EUR that he is willing to risk if he receives exactly EUR 1 on the occurrence of A. For a bookmaker this would mean that his odd for a certain event will not exceed 2 if he believes that the probability of its occurrence is 50%. Hence, odds that are offered by a bookmaker on the occurrence of a certain result reflect his individual estimation regarding the probability of the occurrence of the given result. Of course, bookmakers can be wrong. If it were possible to identify a pattern for their mistakes, this would help in exploiting them. Furt
Author: Farshid Bröker
Publisher:
ISBN: 9783656181750
Category :
Languages : en
Pages :
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Book Description
Author: David Sumpter
Publisher: Bloomsbury Publishing
ISBN: 1472924150
Category : Mathematics
Languages : en
Pages : 288
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Book Description
'Football looked at in a very different way' Pat Nevin, former Chelsea and Everton star and football media analyst Football – the most mathematical of sports. From shot statistics and league tables to the geometry of passing and managerial strategy, the modern game is filled with numbers, patterns and shapes. How do we make sense of them? The answer lies in the mathematical models applied in biology, physics and economics. Soccermatics brings football and mathematics together in a mind-bending synthesis, using numbers to help reveal the inner workings of the beautiful game. This new and expanded edition analyses the current big-name players and teams using mathematics, and meets the professionals working inside football who use numbers and statistics to boost performance. Welcome to the world of mathematical modelling, expressed brilliantly by David Sumpter through the prism of football. No matter who you follow – from your local non-league side to the big boys of the Premiership, La Liga, the Bundesliga, Serie A or the MLS – you'll be amazed at what mathematics has to teach us about the world's favourite sport.
Author: Imant Daunhawer
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
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Book Description
This research uses football online betting odds of a broad variety of matches and bookmakers to identify known biases in odds pricing, namely the favorite-longshot bias and the away-favorite bias. Furthermore, it tries to answer the question whether a naive strategy of betting against these biases can be profitable. Our findings are consistent with previous research, confirming the existence of the favorite-longshot bias, but turn out to be in contrast with regard to the away-favorite bias, for which there is little evidence in the data. Also, we find that a strategy of betting against the favorite-longshot bias can be marginally profitable, whereas bets in favor of it result in large losses on average.
Author: Plácido Rodríguez
Publisher: Edward Elgar Publishing
ISBN: 1785364553
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
This unique book delves into a number of intriguing issues and addresses several pertinent questions including, should gambling markets be privatized? Is the ‘hot hand’ hypothesis real or a myth? Are the ‘many’ smarter than the ‘few’ in estimating betting odds? How are prices set in fixed odds betting markets? The book also explores the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports.
Author: Sergiy Butenko
Publisher: Springer Science & Business Media
ISBN: 3540247343
Category : Business & Economics
Languages : en
Pages : 300
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Book Description
Ever since the first Olympic Games in Ancient Greece, sports have become an integral part of human civilization. The last decade has been commemorated by the centennial celebration of the modern Olympic movement. With great anticipation, the Olympics return to Athens, Greece, and we are once again reminded that we live in one of the most exciting periods in the history of sports. Reflecting back on my years of service as the International Olympic Com mittee president, I cannot overlook the remarkable changes that have taken place in the world of sports during these two decades. The technological de velopment and consequent globalization of the world economy opened up a window of new opportunities for the sports industry. As a result, manage ment, economics, and other sciences have become a significant part of modern sports. It is my pleasure to introduce this volume comprising an interesting collec tion of papers dealing with various aspects of management, economics and optimization applied to sports. May this book serve as a valuable source of information to researchers and practitioners as well as to casual readers look ing for a deeper insight into the magnificent world of sports.
Author: Leighton Vaughan Williams
Publisher: Oxford University Press
ISBN: 019937662X
Category : Business & Economics
Languages : en
Pages : 740
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Book Description
There is growing interest among academics and policymakers in the economics of gambling, which has been stimulated by major regulatory and tax changes in the U.S., U.K. Continental Europe, Asia, Australia and elsewhere. Unfortunately, there is no comprehensive source of path-breaking research on this topic. To fill this gap, we commissioned chapters from leading economists on all aspects of gambling research. Topics covered include the optimal taxation structure for various forms of gambling, factors influencing the demand and supply of gambling services, forecasting of gambling trends, regulation of gambling, the efficiency of racetrack and sports betting markets, gambling prevalence and behavior, modeling the demand for gambling services, the economic impact of gambling, substitution and complementarities among different types of gambling activity, and the relationship between gambling and other sectors of the economy. These are all important issues, with significant global implications. Specifically, we divide the Handbook into sections on casinos, sports betting, horserace betting, betting strategy, motivation, behavior and decision-making in betting markets, prediction markets and political betting, and lotteries and gambling machines
Author: Mark Campbell
Publisher: Pocket Essentials
ISBN: 9781843448587
Category : Performing Arts
Languages : en
Pages : 0
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Book Description
Infamy! Infamy! They've All Got It In For Me! Beginning with the feel-good conscription caper Carry On Sergeant (1958) and finishing up with the much-maligned sex farce Carry On Emmannuelle (1978), producer Peter Rogers and director Gerald Thomas tossed off a record-breaking thirty films, all with that unique 'naughty but nice' seaside postcard-style humour. A team of spot-on comedy performers, headed by Kenneth Williams, Sid James, Charles Hawtrey, Hattie Jacques and Kenneth Connor, provided the great unwashed public with brain-achingly corny gags, ridiculous slapstick antics and seminal scenes of mayhem and speeded-up chicanery that would have brought a smile to the most jaded of palates. The Carry On comedy partnership of Rogers and Thomas (later combined with the wit of scriptwriter Talbot Rothwell) was responsible for many a classic production. From historicals such as Carry On Cleo (1964) and Carry On...Up The Khyber (1968) - the latter quite possibly the funniest film ever made in Wales - to such contemporary rib-ticklers as Carry On Doctor (1967) and - possibly the most famous entry of all, thanks to Barbara Windsor's elasticised brassiere - the seminal Carry On Camping (1968). The series may have ended in the gutter with Carry On Behind (1975) and Carry On England (1976), but such was the sheer talent on display throughout those twenty years, we can forgive them this small failing. Any genre was up for ridicule - bored with Lawrence Of Arabia (1962)? Try Carry On...Follow That Camel (1967). Fed up with Hammer horror? Turn off the light and shudder at the spine-chilling Carry On Screaming! (1966). Everyone has a personal favourite Carry On film - look up yours in this concise introduction to the whole, extraordinary phenomenon. What's in it? Every film examined in detail, with full cast and crew listing, key scenes and dialogue gems, and an informed critique; brief biographies of the major players, TV shows and theatre plays; appendices that include an exhaustive bibliography and an overview of the best Carry On websites around; all rounded off with a fiendish quiz on all things Carry On.
Author: Donald B. Hausch
Publisher: Elsevier
ISBN: 0080559956
Category : Business & Economics
Languages : en
Pages : 561
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Book Description
Its basic empirical research and investigation of pure theories of investment in the sports and lottery markets make this volume a winner. These markets are simpler to study than traditional financial markets, and their expected values and outcomes are uncomplicated. By means of new overviews of scholarship on the industry side of racetrack and other betting markets to betting exchanges and market efficiencies, contributors consider a variety of sports in countries around the world. The result is not only superior information about market forecasting, but macro- and micro-analyses that are relevant to other markets. Easily studied sports markets reveal features relevant for more complex traditional financial markets Significant coverage of sports from racing to jai alai New studies of betting exchanges and Internet wagering markets
Author: Steven S. Skiena
Publisher: Cambridge University Press
ISBN: 9780521009621
Category : Computers
Languages : en
Pages : 252
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Book Description
A story of using computer simulations and mathematical modeling techniques to predict the outcome of jai-alai matches and bet on them successfully.
