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The recent advent of betting exchanges, which allow customers to bet against each other, rather than against the bookmaker or betting shop chain, may herald a change in the nature of customer relationships within the sports betting market. This article outlines the size and current characteristics of the sports betting market, describes the emergence and operation of betting exchanges and discusses the possible impact that these exchanges may have on traditional sports betting transactions and markets.

The purpose of this study is to empirically examine the efficiency of Greek fixed-odds (offline) betting market as offered by OPAP for the period 2016–2019.

Using a four-year data sample of OPAP's opening and closing odds for football matches from all over the world and applying linear probability and probit models, the market efficiency is examined and the existence of possible anomalies is investigated.

The main findings of research suggest that although the odds are dominated primarily by favorite-longshot bias and secondarily by draw bias, this mispricing cannot prove profitable. However, the opening odds, the margin levels and the market structure provide information that is not fully captured by the closing odds, giving bettors profit opportunities. Thus, findings show that the semi-strong market efficiency is questionable. Finally, competition reduces commissions leading to more efficient odds.

The conclusions of this study are useful for football betting market and, particularly, for government authorities, bookmakers and bettors. Findings can be extended in future research to prediction tasks.

To the best of the authors’ knowledge, this is the first study about the Greek football betting market. The contribution to the literature lies on the one hand in the examination of a monopolistic land-based betting market, which is being squeezed and threatened by the more competitive online betting market, and on the other hand in the simultaneous examination of the opening and closing odds.

Gambling is big business in the UK with an annual turnover of some £25 billion and for the past 40 years betting shops have been the most prominent and visible element within this market. This paper outlines the changes in the general locational pattern and the service environment of betting shops as a prelude to a description of the origins, characteristics and growth of sporting betting operations on the Internet. The paper then discusses some of the issues surrounding sporting betting on the Internet focusing particularly on the challenges it is seen to pose to traditional betting shop businesses.

The purpose of this paper is to use financial market prices formed in betting markets as a measure of uncertainty of outcome and other factors as it relates to hockey attendance in three top European leagues, the KHL, SHL, and Liiga. This is the first study of European hockey to use betting market odds to estimate the impact of home team win probability and uncertainty of outcome on attendance.

The design of this study is a multivariate regression model with log of attendance and percentage of arena capacity as dependent variables in two separate regressions. Controlling for other factors, the role of the home team win probability and its square are explored for individual game attendance.

Fans of the KHL and SHL are found to prefer to see their home team win, but also exhibit strong preferences for uncertainty of outcome. Fans of Liiga prefer to see the home team win, but do not exhibit as strong a preference for uncertainty of outcome. This differs from recent findings in the sport of baseball and from previous findings for the NHL.

Having a competitive league is not only important for television ratings, but also for in-person attendance in these European hockey leagues. Importance of uncertainty of outcome varies across leagues.

The paper uses financial market prices, betting market odds, as a measure of game expectations (home team win probability) and uncertainty of outcome and applies it to a new setting for three of the top European hockey leagues. The findings illustrate that uncertainty of outcome is important for the KHL and SHL, but statistically insignificant for Liiga.

This article provides market intelligence, by way of a narrative case study, relating to online retailing in an unusual setting. While the transaction between business and customers is generally seen as very much the dominant element in such retailing, customer‐to‐customer interactions are generating important e‐commerce niches. The case study presents an example, in the shape of “betting exchanges” in the UK, which allow customers to bet against each other rather than against the traditional betting shop. It briefly discusses some of the special challenges facing online retailers in general, outlines the size, structure and characteristics of the betting market, describes the emergence and operation of the betting exchanges, assesses their possible impacts on betting shops, and speculates about future developments.

The concept of servicescape and its effect on consumer behaviour has been studied extensively in numerous areas of retailing. However, the role of servicescape in non‐traditional service settings has received comparatively little attention. The aim of this paper is to fill in some of this research gap by testing the effects of servicescape (ambience, layout and functionality) on consumer behaviour within UK betting shops, as part of the wider UK gambling industry.

In order to achieve this objective an exploratory research methodology was chosen. Firstly, three betting shops in the same metropolitan area were chosen as the base for interviews with managers and structured observations. This was complemented by fifty semi‐structured customer interviews from the same three betting shops. The use of these different methods allowed triangulation and validation of the results.

The key finding of this paper are that customers in betting shops appear to be unaffected by some of the elements of the servicescape. However, this research has found that signs, symbols and artefacts were regarded as critically important by consumers.

Further, larger scale research is needed on the effects of servicescape in environments where consumption behaviour could be considered compulsive. This could includes, e.g. betting shops, arcades, casinos, bingo halls and National Lottery “shops.” Furthermore, this paper could also be used as the basis for further research on the e‐servicescape of the online gambling industry.

Some servicescape elements do not appear to affect betting shop customers greatly, but staff knowledge is important. Therefore, resources should be spent on improving staff knowledge rather than on other elements of the servicescape.

No prior empirical research has been found in this area.

Despite increasingly persuasive women-focused marketing of gambling products, there has only been limited investigation around women sports betting. Men remain the focus of much of the conversation about sports betting as they have generally been found to be the most active sports bettors and the most at risk of experiencing harms associated with their behaviour. This chapter aims to fill this gap by exploring the characteristics of young women sports bettors in the United Kingdom and the relationship between sports betting and the experience of gambling harms. To do this, we created two models of analysis. Our analysis is based on data from the first wave (2019) of the Emerging Adults Gambling Survey (EAGS) dataset (n = 3,549). The EAGS is a non-probability longitudinal survey that includes individuals between the ages of 16 and 24 who were residents in Britain at the time of data collection. Firstly, we examined the associations between women sports bettors and several factors identified as important predictors of sports betting. Secondly, we sought to understand the relationship between women's sports betting and the harms associated with this activity. From these models, we found that women's sports betting was most reliably predicted according to fandom and peer influence. We also found that women sports bettors were more at risk of experiencing harms associated with difficulties with family and friends than women gamblers using other products.

This study aims to identify institutional work mechanisms that public actors employ in market shaping.

The paper uses an abductive theorizing process, combining a literature review with an empirical exploration of three different market-shaping contexts.

The study identifies 20 granular mechanisms of institutional work that market-shaping public actors employ. These mechanisms are all potentially employable in creating, maintaining or disrupting markets. Institutional work vis-à-vis individual institutions may differ in direction from the institutional work vis-à-vis the market system. Public actors are not a homogeneous group but may have different values and support competing institutional logics even when operating in the same market.

The empirical data were limited to three cases in three small open economies. Data collected from other markets and with other methods would provide more rigorous insight into market-shaping public actors.

The findings revealed institutional work mechanisms that public actors can use to shape markets. Companies wanting to engage public actors in market shaping should be aware of the values and institutional logics that influence market-shaping public actors.

The paper unites and expands on the scattered knowledge regarding institutional work in market shaping. It illuminates and dissects the role of public actors in market shaping, challenging the reactive stance that is often assigned to them. The study provides a better understanding of how conflicting market views affect markets. It also brings insights into the interplay between market-shaping actions and the multiple levels of market systems.