Physics – Physics and Society
Scientific paper
2006-02-24
Physics
Physics and Society
to be published in Physica A
Scientific paper
10.1016/j.physa.2005.12.027
Gambling is one of the basic economic activities that humans indulge in. An investigation of gambling activities provides deep insights into the economic actions of people and sheds lights on the study of econophysics. In this paper we present an analysis of the distribution of the final odds of the races organized by the Japan Racing Association. The distribution of the final odds $P_o(x)$ indicates a clear power law $P_o(x)\propto 1/x$, where $x$ represents the final odds. This power law can be explained on the basis of the assumption that that every bettor bets his money on the horse that appears to be the strongest in a race.
No associations
LandOfFree
Power-law distribution in Japanese racetrack betting does not yet have a rating. At this time, there are no reviews or comments for this scientific paper.
If you have personal experience with Power-law distribution in Japanese racetrack betting, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Power-law distribution in Japanese racetrack betting will most certainly appreciate the feedback.
Profile ID: LFWR-SCP-O-224354