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Corrupt Bookmaking in a Fixed Odds Illegal Betting Market

Bag, P.K.; Saha, B.

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Authors

P.K. Bag



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 Mar 29, 2024
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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