{"title":"Sales Volume, Noise Traders, and Efficiency of the Japanese Racetrack Betting Market","authors":"Masahiro Ashiya","doi":"10.5750/jgbe.v16i1.2029","DOIUrl":null,"url":null,"abstract":"This study examines 3,270 races of the Japanese thoroughbred racetrack betting market. It finds that market efficiency improves with the sales volume and deteriorates with the number of horses on a race and an increase in less-informed bettors.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"55 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"The Journal of Gambling Business and Economics","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.5750/jgbe.v16i1.2029","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
This study examines 3,270 races of the Japanese thoroughbred racetrack betting market. It finds that market efficiency improves with the sales volume and deteriorates with the number of horses on a race and an increase in less-informed bettors.
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