Investigating efficiency in betting markets: Evidence from the Greek 6/49 Lotto

In this paper we investigate the existence of profit opportunities in the Greek market for the 6/49 Lotto. Under the assumption of random number selection we find evidence suggesting that the market is efficient. Because number selection is found to deviate from randomness, we further investigate th...

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Veröffentlicht in:	Journal of banking & finance 1998-12, Vol.22 (12), p.1597-1615
Hauptverfasser:	Papachristou, George, Karamanis, Dimitri
Format:	Artikel
Sprache:	eng
Schlagworte:	Betting markets Efficient markets Gambling Lotteries Lotto Market efficiency Numbers Profitability Regression analysis Studies
Online-Zugang:	Volltext
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