The University of Buckingham Press Journals
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Betting Markets Efficiency: Evidence from European Football
No full textThis paper uses data from up to 79 bookmakers in any one match to analyze the efficiency of European football betting markets during the 2005/2006 season. We first examine the empirical derivatives of the longshot bias, and find that the bias is much more pronounced for high-grade matches. This arguably supports the information-based explanation of the longshot bias. We also show that internet betting, by giving access to a large number of bookmakers, improves significantly bettors' potential return. Finally, we find that average odds do not provide the best estimate of the likelihood of a result. Indeed, the best available odds are informative as well, even after controlling for the average odds
LESSONS FROM GERMANY: SHOULD UK LEGISLATION CIRCUMNAVIGATE OR CIRCUMVENT THE ISSUE OF MALE CIRCUMCISION?
Get PDFRecent Court Action in Cologne Germany has seen rapid response from the German Government, with the German Parliament passing new legislation confirming the lawfulness of ritual circumcision. However there are questions as to whether German Parliament has done enough This case note looks at the background to the case and considers the ethical implications of this case in parallel to current activity in the UK.The author makes recommendations to minimum legal requirements to current English law in this respect
IP PATTERNS OF MOVEMENTS IN VSO TYPOLOGY: THE CASE OF ARABIC
Get PDFThe aim of this article is to explore a particular instantiation of the order in Arabic and to demonstrate that VSO and SVO are frequent alternatives for the language. The article will offer a range of views that have been expressed on the subject in order to give a comparative orientation to this study and will include and cover a range of empirical data in an attempt to discover and to understand the interaction of the IP (Inflectional Phrase) components of the languages underlying system. There will be two kinds of arguments advanced in support of the claim we make with regard to such movement: empirical arguments based on the data provided and theoretical or conceptual arguments based on the internal consistency of the system and the literature that deals with similar issues elsewhere
COMBINING METONYMY AND SYSTEMIC FUNCTIONAL GRAMMAR AS AN ANALYTICAL FRAMEWORK FOR POETRY
Get PDFThe challenges faced by readers in their understanding of literary texts lies in the nature of the language resources that have been employed by their writers. Sometimes, this results in a gap between the reader’s expectations—being a result of the relationship between the wordings and their graphological realisations—and the writer’s intentions. What happens then?I have analysed the first 16 lines of a 40-line poem using Halliday’s Systemic Functional Linguistic framework to achieve functional groupings of the writer’s linguistic choices. Thereafter each functional grouping is analysed for the cognitive processes, specifically the Idealised Cognitive Models that the writer’s choices may work within With such a combination of the two linguistic sub-fields, an internally consistent interpretation and possible deep meanings of the literary texts are uncovered. This could become the basis for future pedagogical studies, teaching students to reach a consistent deep meaning of a literary text that may or may not include the array of literary techniques available to them
ASSESSMENT TOOL TO MEASURE AND EVALUATE THE RISK POTENTIAL OF GAMBLING PRODUCTS: ASTERIG
No full textWithin an elementary decision of March 28th, 2006 the German Federal Constitutional Court implemented the following: “According to the status quo of research it is certain, that gambling and bets can result in morbid addictive be-haviour. ... However different gambling products exhibit different addictive poten-tials.” Up to now a specific identification of the addictive potential of a concrete gambling product was nearly impossible. This being said, the Wissenschaftliches Forum Glücksspiel (Gambling Scientific Forum) developed a globally applicable assessment tool to measure and evaluate the risk potential of gambling products. AsTERiG is developed by the Gambling Scientific Forum in the years 2006-2010. At the completion of this final version as well as in the composition of this survey the following scien-tists were involved: Prof. Dr. Reiner Clement, Bonn-Rhein-Sieg University; Prof. Dr. Jörg Ennuschat, University of Konstanz; Prof. Jörg Häfeli, Lucerne University of Applied Sciences and Arts; Prof. Dr. Gerhard Meyer, University of Bremen; Chantal Mörsen, Charité Berlin; Prof. Dr. Dr. Franz W. Peren, Bonn-Rhein-Sieg University; Prof. Dr. Wiltrud Terlau, Bonn-Rhein-Sieg University
AN ONLINE SPORTS BETTING ADOPTION MODEL
No full textThe objective of this research was to validate an online sports betting adoption model among students in a tertiary institution. The research model incorporated key constructs in the Technology Acceptance Model (TAM) and two other constructs – gambling belief and subjective norm. Data collected from a questionnaire survey were used to test the model. The results, based on 212 survey returns, supported all the hypotheses proposed in this study. They showed that perceived usefulness, perceived ease of use, attitude, gambling belief, and subjective norm had either direct or indirect influence on intention to bet online. The study discussed the implications of the results for industry practitioners and gambling counselors
OVER-VALUED AND UNDER-DOGGED: AN ASSESSMENT OF THE SEEDING OF MID-MAJOR TEAMS IN THE NCAA MEN’S BASKETBALL TOURNAMENT
No full textWe test whether the NCAA Selection Committee’s tournament seeding process is biased with respect to teams from the Mid-Major conferences, by analyzing Seeds, Spreads, Betting Lines, and the participants’ conference affiliations for the 819 games of the 13 NCAA Men’s Basketball Tournaments played from 2000 to 2012. We demonstrate that the Selection Committee overvalues Mid-Major teams that receive a favorable seed and undervalues those that receive unfavorable seeds. Because Mid-Major teams receive more unfavorable seeds than favorable ones, by a nearly two-to-one ratio, the net results are to the detriment of the Mid-Major conferences. We show that the betting market appears to acknowledge the Selection Committee’s bias and makes adjustments.
DETERMINANTS OF DEMAND FOR GAMBLING/OFFICE FOOTBALL POOL BETTING IN IBADAN, OYO STATE, NIGERIA
No full textIn the present study, we evaluated the statistical significance of a number of socioeconomic and demographic variables on the demand for office football pool betting in Ibadan, Oyo State of Nigeria. The Ordinary Least Square (OLS) econometric model was employed. The study identifies the socioeconomic and demographic characteristics of the gamblers and econometrically analyzed the factors influencing gambling activities. The results showed that gender, age, household size, educational attainment, occupation, monthly income of pool bettors, as well as price of coupons, were among the major factors affecting the demand for office football pool betting. To the extent that our sample may be representative of a wide and broader set of circumstances, our finding led to the recommendation of policy and institutions that support government involvement in gambling activities, especially office football pool betting.
The influence of market ecology on market efficiency: Evidence from a speculative financial market
No full textThis paper explores differences in market ecology in a speculative financial market, the horserace betting market, and examines the impact these variations have on the information which returns seeking bettors need to incorporate in their subjective probability estimates. Conditional logit models are employed to demonstrate that different types of data influence the outcome of races distinguished by the degree to which the information environment is benign/hostile to bettors. The results suggest that the degree to which bettors use appropriate information in assessing horses’ winning probabilities is influenced by market ecology and that this in turn affects the degree of efficiency in different market segments
Gamblers’ Love for Variety and Substitution among Lotto Games
No full textThis paper considers the whether offering multiple lotto games within a state by joining a multi-state lottery increases total ticket sales compared to offering a single state game. The question is considered from two different perspectives, which both lead to the conclusion that states do tend to benefit from increased ticket sales overall by joining a multi-state lottery association. There is, however, a noted difference in the magnitude of that effect depending on the size of the average jackpots of the previously existing state games