Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | The liquidity advantage of the quote-driven market: Evidence from the betting industry |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | The Quarterly review of economics and finance |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1062-9769 |
| Volume | 64 |
| Number | 2017 |
| Page Range | 306 - 317 |
| Date | 2017 |
| Abstract Text | Even though betting exchanges are considered to be the superior business model in the betting industry due to less operational risk and lower information costs, bookmakers continue to be successful.We explain the puzzling coexistence of these two market structures with the advantage of guaranteed liquidity in the bookmaker market. Using matched panel data of over 1.8 million bookmaker and bettingexchange odds for 17,410 soccer matches played worldwide, we find that the bookmaker offers higherodds and bettor returns than the betting exchange when liquidity at the betting exchange is low. |
| Related URLs | |
| Digital Object Identifier | 10.1016/j.qref.2016.07.016 |
| Other Identification Number | merlin-id:15500 |
| PDF File |
Download from ZORA
|
| Export |
BibTeX
EP3 XML (ZORA)
|