This thesis was written in order to introduce relatively unknown investment activity. It shows basic principles of value betting and investment technique called "Asian handicap" which is used by the most of successful investors. These activities take place on Asian markets, that is why I describe processes and rules which are used there. The reader will be shown how professional analyst calculates his own fair odds. This is very important for his decision-making about investments. The practical part of the thesis covers activities of analysts during short (one week) and long (one year) period. Everything was registered, commented and put into context with theoretical facts. Results were evaluated too. This thesis offers different view on the activity which changed from pure gamble into new investment option.

published_or_final_version / Statistics / Doctoral / Doctor of Philosophy

Historiquement en matière de jeux d'argent en dur, il existe une homogénéité des législations nationales puisque la plupart des dispositifs s'articule autour d'un monopole d'Etat et/ou de la délivrance d'une licence d'exploitation exclusive. Le particularisme de cette activité économique a été reconnu par le juge européen ce qui lui permet de déroger, sous certaines conditions, aux principes de libre prestation de services et de liberté d'établissement. L'avènement des jeux d'argent en ligne a cependant modifié l'appréhension de ce secteur en raison du caractère transnationale de cette nouvelle activité. A cet égard, les Etats ont tenté d'apporter des réponses aux problématiques liées au blanchiment d'argent, à la protection du consommateur, à la manipulation des résultats sportifs et à l'existence de sites illégaux qu'elle pose. L'hétérogénéité des solutions proposées ne permet cependant pas de répondre efficacement à ces écueils ni de satisfaire aux exigences définies par les Traités. Dès lors, la Commission européenne a introduit des procédures d'infractions contre certains Etats puis a publié un livre vert afin de rechercher des pistes qui assureraient un consensus entre les Etats membres sans qu'elle n'ait à intervenir davantage par l'intermédiaire d'une législation européenne. Néanmoins, les nombreux obstacles issus des textes européens n'offrent à la Commission européenne qu'un espace restreint de propositions qui viseront surtout à renforcer les coopérations entre les autorités de régulation et ne permettront probablement pas de résoudre les questions susmentionnées. C'est dans cette perspective que nos travaux de recherches s'inscriront. Aussi, après avoir étudié le droit positif européen, nous nous attacherons, à partir d'une étude de droit comparé des principaux modèles juridiques existants sur le territoire de l'Union (droit belge, droit britannique, droit français et droit italien), à déterminer un instrument d'harmonisation européen qui d'assurer un haut niveau de protection des consommateurs et une concurrence équilibrée entre les opérateurs de jeux. / Historically as regards gambling, there is a homogeneity of national laws because most regulations are built around a state monopoly and / or grant of an exclusive license. The particularity of this economic activity has been recognized by the European Justice Court allowing it to derogate, under certain conditions, the principles of freedom to provide services and freedom of establishment. The advent of online gambling, however, changed the understanding of the sector due to the transnational nature of this new activity. In this regard, States have attempted to provide answers to issues related to money laundering, consumer protection, match fixing and the existence of illegal websites that pose. The heterogeneity of the solutions does not allow to effectively respond to these pitfalls or to satisfy the requirements defined by the Treaties. Therefore, the European Commission brought infringement proceedings against some states and has published a Green Paper to search for tracks that would ensure a consensus among Member States without it having to intervene more through of European regulation. However, many obstacles from European laws available to the European Commission a limited space of proposals that aim primarily at strengthening cooperation between regulatory authorities and probably will not help to solve the above issues. It is in this context that our research work will enroll. Also, having studied European positive law, we will focus, from a comparative law study of the main existing legal models on the territory of the Union (Belgian law, English law, French law and Italian law) to determine an instrument of European harmonization to ensure a high level of consumer protection and fair competition between gambling operators.

Problem: The online betting industry has erased the importance of national borders and opened up the world, which has lead to a more diversified perspective of the company. In this master thesis we wanted to broaden and develop the topic of corporate valuation with regard to the on-line gambling industry. In order to do that, a case study of the on-line betting firm Unibet and its core betting activities has been carried out. Purpose: The study aims to identify factors in the strategic, SWOT and financial analysis that will be used in the cash flow valuation model in order to derive the company value. Method: A case study has been chosen to collect empirical data to our study. Conclusion: A cash flow valuation in different scenarios was carried out. With the assumptions made in the “probable” scenario a value of approximately GBP 85 million was reached, which was significantly lower than the listed value. This is mainly due to the fact that we believe that the increased competition will make it difficult for Unibet to maintain its strong growth in sales in the future. The assumptions have been based on the information gained from the strategic analysis, the SWOT analysis and the development in financial ratios.

<p>Problem: The online betting industry has erased the importance of national borders and opened up the world, which has lead to a more diversified perspective of the company. In this master thesis we wanted to broaden and develop the topic of corporate valuation with regard to the on-line gambling industry. In order to do that, a case study of the on-line betting firm Unibet and its core betting activities has been carried out.</p><p>Purpose: The study aims to identify factors in the strategic, SWOT and financial analysis that will be used in the cash flow valuation model in order to derive the company value.</p><p>Method: A case study has been chosen to collect empirical data to our study.</p><p>Conclusion: A cash flow valuation in different scenarios was carried out. With the assumptions made in the “probable” scenario a value of approximately GBP 85 million was reached, which was significantly lower than the listed value. This is mainly due to the fact that we believe that the increased competition will make it difficult for Unibet to maintain its strong growth in sales in the future. The assumptions have been based on the information gained from the strategic analysis, the SWOT analysis and the development in financial ratios.</p>

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Thesis (M.S.)--University of Wisconsin--Madison, 1985. / Typescript. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 288-290).

We test the NBA betting market for efficiency and find that totals lines are significantly biased early each season, yet sides lines do not show a similar bias. While market participants generally force line movements in the correct direction from open to close, they do not fully remove the identified bias in totals lines. This inefficiency enables a profitable technical trading strategy, as the resulting win rate of our proposed simple betting strategy against the closing totals line is 56.72%.

Betting on sports is growing at a fast pace.  Betting addiction has today become a public health problem and young people in particular have a greater chance of becoming addicted to betting. Sports teams and leagues all over the world receive large sums of money from betting companies to be associated with them. Allsvenskan and and its teams recently entered a partnership with Unibet worth 1.8 billion kr over 12 years.    The purpose of my study was to investigate the opinions of young Swedish sports betting men (age 20-25) regarding sponsorship from betting companies to Allsvenskan and its clubs and to identify patterns of what impact sponsorship has on their gambling.    As help to analyze my respondents' answers, I used two theories. The attribution theory was used to analyze the first part of my purpose. With the theory, I analyzed whether my respondents had received an altruistic attribution to the sponsor because of the sponsorship. The second theory was the TPE framework and it was used for the other part for my purpose. With the TPE framework, I analyzed whether my respondents felt that other people were more affected by the sponsorship than themselves.    To gain a deeper insight in to the opinions of my respondents I used semi-structured interviews. The semi-structured interviews gave my respondents and I a chance to openly discuss the issues in the study.    The results showed that there had absolutely not been an altruistic attribution to the sponsor. All my respondents were against the sponsorship from betting companies to Allsvenskan and its teams. The main reason for the hostility towards betting company sponsorship was the unethical aspect. The respondents considered that betting can have negative effects if an addiction occurs. Betting companies should therefore not be marketed by Allsvenskan and its clubs since a lot of people have a strong bond to them. The TPE framework's theory that people often believe that other people are affected more than themselves was a good fit for my respondents. No patterns were found in my investigation because no one believed that the sponsorship had affected them in any way. The respondents understood that the sponsorship may have affected others and that the sponsorship may have affected them subconsciously. / Betting på sport växer i rask takt.  Bettingberoende har idag blivit ett folkhälsoproblem och framförallt yngre män har en större chans att hamna i ett bettingberoende. Sportlag och ligor över hela världen får stora summor pengar av bettingbolag för att associeras med dem. Allsvenskan och Allsvenska lag gick nyligen in i ett samarbete med Unibet som är värt 1.8 miljarder över 12 år.   Syftet med min studie var att undersöka unga svenska sportbettande mäns (20-25) åsikter kring sponsringen från bettingbolag till Allsvenskan och Allsvenskan klubbar samt identifiera mönster kring vad för påverkan sponsringen har på deras spelande.    Som hjälpmedel för att analysera mina respondenters svar använde jag mig av två teorier. Attribution teorin användes för att analysera den första delen i mitt syfte. Med teorin analyserade jag om mina respondenter hade fått en altruistisk attribution till sponsorn på grund av sponsringen. Den andre teorin var TPE-ramverket och användes till den andre delen i mitt syfte. Med TPE-ramverket analyserade jag om mina respondenter ansåg att andra påverkades mer av sponsringen än dem själva.   För att få en djupare insikt i mina respondenters åsikter och har jag använts mig av semistrukturerade intervjuer. De semistrukturerade intervjuerna gav både mig och mina respondenter ett friare sätt att diskutera frågeställningarna.   Resultatet visade att det absolut inte hade uppstått en altruistisk attribution till sponsorn. Alla mina respondenter var emot sponsringen från bettingbolag till Allsvenskan och dess lag. Den främsta anledningen till fientligheten mot bettingbolagssponsringen var den oetiska aspekten. Respondenterna ansåg att betting kan medföra negativa effekter om ett beroende uppstår. Bettingbolag borde därav inte marknadsföras av Allsvenskan och Allsvenska klubbar som många människor har ett starkt band till.   TPE-ramverkets teori om att människor ofta anser att andra människor påverkas mer än sig själva stämde bra in på mina respondenter. Det hittades inga mönster i min undersökning eftersom ingen ansåg att sponsringen har påverkat dem på något sätt. Respondenterna hade en förståelse att sponsringen kan påverkat andra samt att sponsringen kan ha påverkat dem undermedvetet.

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