This unique book examines how sports betting markets function. Charting recent international developments, expert contributors consider how both bookmakers and stakeholders view these changes, their prime areas of concern and the potential methods for addressing them. Providing a rigorous economic analysis throughout, this book examines the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports. Against this background, chapters explore pertinent questions such as: should gambling markets be privatized? Is the `hot hand' hypothesis real or a myth? Are the `many' smarter than the `few' in estimating betting odds? How are prices set in fixed odds betting markets? Chapters also review important policy concerns such as the health implications posed by the potential link between the accelerating popularity of sports betting and the decline in sports participation. Academics and students studying economics, sports economics and, more specifically, sports betting will find this book an engaging companion. Contemporary and up to date, it will also appeal to stakeholders looking to widen their professional insight. Contributors include: B. Buraimo, X. Che, S. Dobson, A. Feddersen, D. Forrest, J. Garcia, J. Goddard, K. Grote, B. Humphreys, V. Matheson, R. Paul, D. Peel, L. Perez, P. Rodriguez, J. Ruseski, R. Simmons, P. Westmoreland, A. Weinbach, R. Wheeler, J. Yang

Offering a cutting-edge analysis of competitive balance and outcome uncertainty, this book explores the topic from multiple perspectives. Chapters address competitive balance and outcome uncertainty in different sports in a range of countries to help understand its significance. Highlighting important new insights into previously unexplored dimensions, the book also provides a rich context for better understanding why fans, teams and leagues value competitive balance. It challenges readers to think about the topic in a broad and rigorous way, and in some cases to question widely held beliefs about how outcome uncertainty motivates competitive balance and how sports fans actually view competitive balance. Key case studies and the use of new data in the chapters makes this an interesting read for sports economics researchers and students looking for current analysis of the topic. Managers of sports organizations will also appreciate the insights that the book gives into what their customers value. Contributors include: A. Barajas, O. Budzinski, D. Coates, J. del Corral, A. Feddersen, B. Frick, T. Gasparetto, C. Gomez-Gonzalez, T.J. Gopane, B.R. Humphreys, S. Jenkins, S. Kesenne, M. Lowrance, J. Miller, K.T. Mokgatle, J. Price, J. Reade, P. Rodriguez, L.C. Sanchez, P. Sanchez-Fernandez, E.F. Stephenson, H. Winner

Including an array of distinguished contributors, this novel book fills a gap in the literature by addressing an important yet under researched issue in the field of sports economics. It places great emphasis on the notion that sport is a significant component for improving the happiness, health and well-being of citizens, communities and society as a whole. In so doing, it addresses whether, in an environment of increasing pressure on public spending, governments should continue to subsidise sporting activities at the expense of other public resources. Written in a clear and accessible style, this pioneering book explores a number of specific issues including: -the relationship between sport and happiness -the effect of sport on health, including the capacity of sport and exercise to reduce spending on medical expenses -the relationship between sport and productivity -whether sport as a leisure activity can improve quality of life. Innovative and original, this volume will strongly appeal to students and researchers of sport, health and welfare economics. Contributors include: C. Breuer, C. Cabane, M. Davis, P. Downward, C. End, D. Forrest, J. Garcia Villar, H. Huang, B. Humphreys, G. Kavetsos, M. Lechner, J. Leyva, I. McHale, S. Oreffice, T. Pawlowski, J. Price, C. Quintana-Domeque, S. Rasciute, J. Ruseski, N. Sari, D.H. Simon

Sports economics is a well-established and dynamic area of study; a key component in the fields of sport management, sport science and sport studies, as well as in other areas of economics, finance and management. Covering amateur to professional sports, individual events and organised tournaments, this Handbook provides an authoritative contribution to the understanding of sport in the economy. The editors of The SAGE Handbook of Sports Economics have brought together a global team of respected scholars to create this benchmark collection of insights into sports economics. Each chapter includes a study of a specific context in which issues arise in sports economics, a critical presentation of its main theoretical contributions, an overview of current research findings, and an outline of enquiry for future research. PART I: The Nature and Value of the Sports System and Economy PART II: Amateur Sports Participation, Supply and Impact PART III: Professional Team Sports PART IV: Professional Sports Leagues PART V: Sports Events and their Impacts PART VI: Individual Sports PART VII: Future Research

This book is designed to be used in undergraduate sports economics classes. The book covers the standard economic models used in sports economics: short-run models of price setting and attendance, long-run models of team talent choice, the "two team" model of sports league outcomes, models of outcome uncertainty, and models of contests in sport. The book emphasizes the graphical and algebraic analysis of economic outcomes in sport. The book is designed for use in shorter classes: modules of one week or less, summer semester classes, intersession courses, etc. It can also be used as part of a longer, semester long course that includes supplemental readings from journals, magazines, and newspapers.