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Betting market: analysis of arbitrage situations

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Abstract

An arbitrage practice and its various applications to the betting market are considered. The ratio of profit and commitments and brake-even value of the market are proved. The concepts of speculative and systematic probabilities, conditional profit and conditional loss from a market event, and the efficiency of game strategies are analyzed. A typical two-position model of trading at an exchange is considered.

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Authors and Affiliations

  1. Ukrainian State University of Finance and International Trade, Kyiv, Ukraine

    V. Yu. Kotlyar

  2. Taras Shevchenko National University, Kyiv, Ukraine

    O. V. Smyrnova

Authors
  1. V. Yu. Kotlyar
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  2. O. V. Smyrnova
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Correspondence to V. Yu. Kotlyar.

Additional information

Translated from Kibernetika i Sistemnyi Analiz, No. 6, November–December, 2012, pp. 122–133.

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Kotlyar, V.Y., Smyrnova, O.V. Betting market: analysis of arbitrage situations. Cybern Syst Anal 48, 912–920 (2012). https://doi.org/10.1007/s10559-012-9472-1

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  • DOI: https://doi.org/10.1007/s10559-012-9472-1

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