The demand for parimutuel horse race wagering and attendance
Article Abstract:
The demand for parimutuel horse race wagering and attendance is examined to redress some of the inadequacies of previous studies. To achieve this, the present study incorporates substitute products such as a state lottery and professional sports, and own-product properties such as racing quality, into the demand relationship specification. Aside from rectifying earlier works, the study aims to quantify the responsiveness of the demands for attendance and betting to these new elements in the demand relationship specification, along with standard price and income elasticities. Furthermore, it seeks to investigate the differences in the responsiveness of horse race betting demand for two types of racetracks, Thoroughbred and Standardbred. The study is confined to three parimutuel horse racetracks in the Ohio-Kentucky market area. Its results are discussed.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1995
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The Profitability of Wagering on NFL Games
Article Abstract:
The history of past National Football League (NFL) games is studied to form profitability betting strategies. It is posited as a problem in statistical inference. The hypothesis that a strategy is profitable is tested. Six categories of winning strategies are considered. Studying the history of game outcomes does not appear to provide a useful strategy. Tables are given.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1984
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The Profitability of Wagering on NFL Games
Article Abstract:
The ability of profitability betting on football games using past results is doubtful. Since the bettor pays the bookie for placing the bet he must win 53.38 percent of the bets. Success must be more a function of the quality of information rather than past results. Computational results are presented in several tables.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1984
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