New Findings from P. Raventos and Co-Researchers in the Area of Business and Finance Described.

"Betting on sports is widespread. Book making can be profitable but the practice is illegal in the United States," scientists in report.

"The internet allows this activity to move to offshore locations like Costa Rica. The internet also lowers entry barriers and makes pricing more transparent which could lead to hyper competition. Using odds for four World Cup soccer games the case reader can calculate the expected profitability for several bookies (sportsbooks). Price dispersion does not disappear with the internet, even for gambling which entails no movement of merchandise. Strategy is important," wrote P. Raventos and colleagues.

The researchers concluded: "Sportsbooks must decide on segments, product mix and geographic scope."

Raventos and colleagues published their study in the Journal of Business Research (Sportsbooks and politicians: Place your bet!. Journal of Business Research, 2011;64(3 Sp. Iss.):299-305).

For additional information, contact P. Raventos, INCAE Business School, Apartado Postal 960-4050, Alajuela, COSTA RICA.

The publisher's contact information for the Journal of Business Research is: Elsevier Science Inc., 360 Park Avenue South, New York, NY 10010-1710, USA.

Keywords: Business and Finance.

This article was prepared by Economics Week editors from staff and other reports. Copyright 2011, Economics Week via VerticalNews.com.