Estimating the Implied Probabilities in the Tennis Betting Market: A New Normalization Procedure: Comment

Autor:	Jason Berkowitz, Craig Depken, John Gandar
Rok vydání:	2023
Předmět:	Marketing Business and International Management Finance
Zdroj:	International Journal of Sport Finance. 18:54-58
ISSN:	1930-076X 1558-6235
DOI:	10.32731/ijsf/181.022023.05
Popis:	In this note, we comment on a recent paper in the journal that proposes a new normalization procedure when converting tennis betting odds to the implied probabilities of each player winning. The new procedure is especially germane for matches in which there is a heavy favorite and where there is concern that traditional conversion methods understate the true probability of the favorite winning. However, in this comment, we argue that the new adjustment, while an interesting contribution, suffers from at least three limitations that make the procedure relatively costly while not materially improving predictions of match outcomes.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::79e8e443dbc0e0a3a61ebac0ddc1ecca https://doi.org/10.32731/ijsf/181.022023.05 Zobrazit plný text záznamu