Re: Pokernomics
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He states that the market barely moves based on his limited research, but if he was betting and hunting for the best lines (as most pro gamblers do), I think he would start to see that the market moves more than he thinks.
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Okay, I'm going to read this. You've got my curiousity piqued. I can't download it from home, since I don't have an NBER subscription and thus cannot get it off of SSRN. But in the abstract, it says that "in sports betting, bookmakers announce a price, after which adjustments are small and infrequent." But above, you said, " the market barely moves" and that most gamblers search for the best lines. But that's not the same thing, no? I mean, isn't he just saying that individual adjustment by a bookie is slow and infrequent? Not that there is uniform lines across the market.
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