If the market is illiquid, this is a disincentive for bettors to enter the market. This is known as Metcalfe's Law, and represents a drawback for the establishment of liquid betting exchanges (Koning & van Velzen, 2008)
There can be little doubt that sports betting is a growth industry, and much of this growth is fueled by the Internet, which brings gambling to a wider audience. An industry that was in 2004 worth just over $5 billion is going to be worth an estimated $35 billion by 2012 (Smith, n
There can be little doubt that sports betting is a growth industry, and much of this growth is fueled by the Internet, which brings gambling to a wider audience. An industry that was in 2004 worth just over $5 billion is going to be worth an estimated $35 billion by 2012 (Smith, n
There can be little doubt that sports betting is a growth industry, and much of this growth is fueled by the Internet, which brings gambling to a wider audience. An industry that was in 2004 worth just over $5 billion is going to be worth an estimated $35 billion by 2012 (Smith, n
There can be little doubt that sports betting is a growth industry, and much of this growth is fueled by the Internet, which brings gambling to a wider audience. An industry that was in 2004 worth just over $5 billion is going to be worth an estimated $35 billion by 2012 (Smith, n
Sports Betting Industry Proponents of the sports betting industry argue that the industry is good for sport and good for consumers. A number of different business models have been developed for the industry, including the traditional bookmaker-bettor relationship and the bettor-bettor relationship at Betfair (Wray & Kelly, 2005)