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Contributors=ix
Introduction=xiii
SECTION I. CASINOS
1. The Employment Impact of Casino Gambling in the U.S. / GARY ANDERS=3
2. The Economics of Casino Taxation / JOHN E. ANDERSON=18
3. The Elasticity of Casino Gambling / MARK W. NICHOLS ; MEHMET SERKAN TOSUN=37
4. The Economics of Asian Casino Gaming and Gambling / RICARDO CHI SEN SIU=55
5. How does Implementation of a Smoking Ban Affect Gaming? / JOHN C. NAVIN ; TIMOTHY S. SULLIVAN ; WARREN D. RICHARDS=87
6. Overview of the Economic and Social Impacts of Gambling in the United States / DOUGLAS M. WALKER=108
SECTION II. SPORTS BETTING
7. The Economics of Online Sports Betting / GEORGE DIEMER ; RYAN M. RODENBERG=131
8. The Football Pools / DAVID FORREST ; LEVI PÉREZ=147
9. The Efficiency of Soccer Betting Markets / JOHN GODDARD=163
10. The Efficiency of Pelota Betting Markets / LORETO LLORENTE ; JOSEMARI AIZPURUA ; JAVIER PUÉRTOLAS=172
11. The Lure of the Pitcher : How the Baseball Betting Market Is Influenced by Elite Starting Pitchers / RODNEY J. PAUL ; ANDREW P. WEINBACH ; BRAD R. HUMPHREYS=194
12. Information Efficiency in High-Frequency Betting Markets / J. JAMES READE ; JOHN GODDARD=210
SECTION III. HORSE RACE BETTING
13. On the Long-Run Sustainability of Tote Betting Markets / DAVID EDELMAN=235
14. The Economics of Racetrack―Casino (Racino) Gambling / RICHARD THALHEIMER=241
15. The Modern Racing Landscape and the Racetrack Wagering Market : Components of Demand, Subsidies, and Efficiency / RAMON P. DEGENNARO ; ANN B. GILLETTE=256
16. What Explains the Existence of an Exchange Overround? / DAVID MARGINSON=276
17. Insider Trading in Betting Markets / ADI SCHNYTZER=298
18. Pricing Decisions and Insider Trading in Fixed-Odds Horse Betting Markets / ADI SCHNYTZER ; VASILIKI MAKROPOULOU ; MARTIEN LAMERS=316
SECTION IV. BETTING STRATEGY
19. Betting on Simultaneous Events and Accumulator Gambles / ANDREW GRANT=341
20. A Primer on the Mathematics of Gambling / ROBERT C. HANNUM=370
21. The Science and Economics of Poker / ROBERT C. HANNUM=387
22. The Kelly Criterion with Games of Chance / LEONARD C. MACLEAN ; WILLIAM T. ZIEMBA=402
23. Exploiting Expert Analysis? Evidence from Event Studies in an Information-Rich Market Environment / MICHAEL A. SMITH=428
SECTION V. MOTIVATION, BEHAVIOR AND DECISION-MAKING IN BETTING MARKETS
24. Betting Motivation and Behavior / ALISTAIR BRUCE=451
25. Motivation in Betting Markets : Speculation, Calculus, or Fun? / LES COLEMAN=474
26. Evidence of Biased Decision-Making in Betting Markets / DAVID MCDONALD ; MING-CHIEN SUNG ; JOHNNIE JOHNSON=487
27. Behavioral Finance and Point Spread Wagering Markets / GREG DURHAM=518
SECTION VI. PREDICTION MARKETS AND POLITICAL BETTING
28. A Simple Automated Market Maker for Prediction Markets / DAVID JOHNSTONE=543
29. The Long History of Political Betting Markets : An International Perspective / PAUL W. RHODE ; KOLEMAN STRUMPF=560
SECTION VII. LOTTERIES AND GAMBLING MACHINES
30. The Efficiency of Lottery Markets / DAVID FORREST ; O. DAVID GULLEY=589
31. The National Lottery / JOHN LEPPER ; STEPHEN CREIGH-TYTE=611
32. The Benefits and Costs of Slot Machine Gambling / SCOTT FARROW ; CHAVA CARTER=637
33. The Economics of Lotteries : A Survey of the Literature / KENT GROTE ; VICTOR A. MATHESON=670
34. The Taxation of Gambling Machines : A Theoretical Perspective / LEIGHTON VAUGHAN WILLIAMS ; DAVID PATON=692
Name Index=701
General Index=703
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