P.K. Bag
Corrupt Bookmaking in a Fixed Odds Illegal Betting Market
Bag, P.K.; Saha, B.
Abstract
Illegal betting in a two-team sports contest is studied with player sabotage instigated by a monopolist bookmaker. Whereas punters hold beliefs about the teams’ winning chances correlated with Nature's draw, the bookmaker's information is noise-free. Enforcement investigates with a higher probability, the greater the upset. In such an environment, if punters do not suspect match-fixing, the favourite is bribed, thus creating upsets and intensifying subsequent investigations. Match-fixing continues to hold even when punters are rational, provided that the bookie's beliefs are noisy: the bookie bribes the team he thinks is the favourite and the bettors bet on their perceived favourites.
Citation
Bag, P., & Saha, B. (2017). Corrupt Bookmaking in a Fixed Odds Illegal Betting Market. The Economic Journal, 127(601), 624-652. https://doi.org/10.1111/ecoj.12483
Journal Article Type | Article |
---|---|
Acceptance Date | Nov 29, 2016 |
Online Publication Date | May 24, 2017 |
Publication Date | May 31, 2017 |
Deposit Date | Dec 19, 2016 |
Publicly Available Date | May 24, 2019 |
Journal | The Economic Journal |
Print ISSN | 0013-0133 |
Electronic ISSN | 1468-0297 |
Publisher | Oxford University Press |
Peer Reviewed | Peer Reviewed |
Volume | 127 |
Issue | 601 |
Pages | 624-652 |
DOI | https://doi.org/10.1111/ecoj.12483 |
Public URL | https://durham-repository.worktribe.com/output/1389552 |
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Copyright Statement
This is the accepted version of the following article: Bag, P.K. & Saha, B. (2017). Corrupt Bookmaking in a Fixed Odds Illegal Betting Market. Economic Journal 127(601): 624-652, which has been published in final form at https://doi.org/10.1111/ecoj.12483. This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
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