A reprint of one of the classic volumes on racetrack efficiency, this book is the only one in its field that deals with the racetrack betting market in-depth, containing all the important historical papers on racetrack efficiency. As evidenced by the collection of articles, the understanding of racetrack betting is clearly drawn from, and has correspondingly returned something to, all the fields of psychology, economics, finance, statistics, mathematics and management science. Contents: Psychological Studies; Utility Preferences of Racetrack Bettors; Economic and Mathematical Insights; Efficiency of Win Markets and the Favorite-Longshot Bias; Prices versus Handicapping: Place and Show Anomalies; Efficiency of Exotic Wagering Markets; Research in the Commonwealth and Asia.