Title

A note on adverse selection from thoroughbred wagering - further evidence in Australia

Date of this Version

1-1-2013

Document Type

Journal Article

Publication Details

Citation only

Wrathall, R. (2013). A note on adverse selection from thoroughbred wagering - further evidence in Australia. The Journal of Gambling Business and Economics, 7(2), 71-79.

Access the journal

2013 HERDC submission. FoR code: 140299

© Copyright, The Authors; The Journal of Gambling Business and Economics

ISSN

1751-7990

Abstract

Chezum and Wimmer (2000) show the impact of asymmetric information in the American thoroughbred industry by demonstrating that homebreds (horses retained and raced by their breeders), on average, have lower betting odds than otherwise similar nonhomebreds. In this paper we test their hypothesis in the Australian thoroughbred industry. While we find no relationship between lower betting odds and homebreds when we use their model, we are still able to support their conclusion when we use a logistic model to measure the relationship between homebred and horse performance.

This document is currently not available here.

Share

COinS
 

This document has been peer reviewed.