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Sportsbooks and politicians: Place your bet!

Authors
Journal
Journal of Business Research
0148-2963
Publisher
Elsevier
Publication Date
Volume
64
Issue
3
Identifiers
DOI: 10.1016/j.jbusres.2009.11.016
Keywords
  • Online Gambling
  • Sportsbooks
  • Wto
  • Over-Roundness
  • Frictionless Markets
Disciplines
  • Law

Abstract

Abstract Betting on sports is widespread. Book making can be profitable but the practice is illegal in the United States. The internet allows this activity to move to offshore locations like Costa Rica. The internet also lowers entry barriers and makes pricing more transparent which could lead to hyper competition. Using odds for four World Cup soccer games the case reader can calculate the expected profitability for several bookies (sportsbooks). Price dispersion does not disappear with the internet, even for gambling which entails no movement of merchandise. Strategy is important. Sportsbooks must decide on segments, product mix and geographic scope.

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