- Consulting Editors
- The Oxford Handbook of The Economics of Gambling
- The Employment Impact of Casino Gambling in the U.S.
- The Economics of Casino Taxation
- The Elasticity of Casino Gambling
- The Economics of Asian Casino Gaming and Gambling
- How Does Implementation of a Smoking Ban Affect Gaming?
- Overview of the Economic and Social Impacts of Gambling in the United States
- The Economics Of Online Sports Betting
- The Football Pools
- The Efficiency of Soccer Betting Markets
- The Efficiency of Pelota Betting Markets
- The Lure of the Pitcher: How The Baseball Betting Market Is Influenced By Elite Starting Pitchers
- Information Efficiency in High-Frequency Betting Markets
- On The Long-Run Sustainability of Tote Betting Markets
- The Economics of Racetrack-Casino (Racino) Gambling
- The Modern Racing Landscape and The Racetrack Wagering Market: Components of Demand, Subsidies, and Efficiency
- What Explains The Existence of an Exchange Overround?
- Insider Trading in Betting Markets
- Pricing Decisions and Insider Trading in Fixed-Odds Horse Betting Markets
- Betting on Simultaneous Events and Accumulator Gambles
- A Primer on the Mathematics of Gambling
- The Science and Economics of Poker
- The Kelly Criterion with Games of Chance
- Exploiting Expert Analysis? Evidence from Event Studies in an Information-Rich Market Environment
- Betting Motivation and Behavior
- Motivation in Betting Markets: Speculation, Calculus, or Fun?
- Evidence of Biased Decision-Making in Betting Markets
- Behavioral Finance and Point Spread Wagering Markets
- A Simple Automated Market Maker for Prediction Markets
- The Long History of Political Betting Markets: An International Perspective
- The Efficiency Of Lottery Markets
- The National Lottery
- The Benefits and Costs of Slot Machine Gambling
- The Economics Of Lotteries: A Survey Of The Literature
- The Taxation Of Gambling Machines: A Theoretical Perspective
- Name Index
- General Index
Abstract and Keywords
This chapter provides an overview of the online sports betting industry from an economic and legal perspective. The dual focus is necessary, given that the overlapping, and sometimes conflicting, regulatory environment lends itself to a decidedly “law and economics” inquiry. Following this overview of the pre-Internet environment is a multifaceted treatment of the online sportsbook, explaining the decided shift in its economic characteristics and the ambiguous legal status in which the industry resides. To avoid doubt, the economic-based coverage is applicable globally. In contrast, the accompanying legal discussion focuses on jurisprudence in the United States.
George Diemer is Assistant Professor of Business at Chestnut Hill College.
Ryan Rodenberg is an Assistant Professor in the Department of Sport Management at The Florida State University.
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