On the Average Probability of Losing Bets on Horses with Given Starting Price Odds
- 1 January 1985
- journal article
- Published by JSTOR in Journal of the Royal Statistical Society. Series A (General)
- Vol. 148 (4) , 342
- https://doi.org/10.2307/2981894
Abstract
A model is presented which accounts for some of the empirical patterns of betting losses on horses: the punter discounts a constant fraction 1 - f of his losing...Keywords
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