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Rich with data, although not always with cash for the players, gambling is an exercise in analysis and risk as much as it is a source of entertainment. This edition includes articles from academics and others interested in both data and profits and is fully updated to consider several important trends in the past few years, including rebates on wagers, the growth of off-track betting, increases in corporate involvement, and changes in the structure of returns. Contributors offer studies on the psychology of gambling, preferences of racetrack bettors, economic and mathematical effects, the efficiency of "win markets" and the favorite-longshot bias, place and show anomalies in prices (as compared to handicapping), and the efficiency of exotic wagering markets. They also offer 12 case studies and other research on gambling in the Commonwealth and Asia. The editors provide two additional annotated bibliographies, including one devoted to handicapping books. Annotation c2008 Book News, Inc., Portland, OR (booknews.com)
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