Why do some soccer bettors lose more money than others? In an efficient prediction market,
each gambler should break-even before costs (but losing a constant amount after costs …

This paper uses a new variable, which is based on estimates of insider trading, to forecast
the outcomes of horse races. We base our analysis on the work of Schnytzer, Lamers, and …

This chapter conceptualizes fixed-odds horse betting markets as implicit call option markets.
The decision-making process of a bookmaker is a model that sets prices under uncertainty …