Some other points worthy of further research, include the fact that market participants on both exchanges are not the same (although the exchanges are not transparent on this issue).

Betting markets that are characterised by lower transactions and information costs, have a tendency to be more informative, and accordingly punters trading on those markets are typically provided with a more realistic assessment as to the chance of longshots (the longshot-favourite bias is almost eroded) – however, this may be leading to a situation, where traders, being made aware of the true objective probabilities of runners, simply stay away from the outsiders.