The increasing adoption of the Linked Data principles brought with it an unprecedented dimension to the Web, transforming the traditional Web of Documents to a vibrant information ecosystem, also known as the Web of Data. This transformation, however

This paper is available as Open-Access thanks to a donation from Pinnacle SportsThis study summarizes the key methods of displaying probabilities as odds and provides simple mathematical derivation of a number of key statements in setting odds. Firstly it estimates the expected bookmaker profit as a function of wagers placed and bookmaker margin. Moreover it shows that odds set by bookmakers should have implied probabilities that add up to at least one, otherwise arbitrage is present. Bookmakers can increase profitability by offering more multiples, also known as accumulators, and can lower variation in payouts by maintaining the ratio of wagers and implied probability per outcome.

Purpose. To evaluate the visual outcomes and effect of phacoemulsification surgery on the progression of neovascular age-related macular degeneration (AMD). Methods. Retrospective, noncomparative, and interventional case series. Thirty eyes from 29 subjects with neovascular AMD treated with intravitreal antivascular endothelial growth factor (VEGF) injections who underwent phacoemulsification and had a postsurgery follow-up of 6 months were included. LogMAR best corrected visual acuity (BCVA) was assessed preoperatively; 1 month, 3 months, and 6 months postoperatively; and finally at the last visit. The frequency of anti-VEGF therapy, calculated as the number of intravitreal injections per month, and central macular thickness (CMT) before and after cataract surgery were determined. Results. Median (range) logMAR BCVA was 0.69 (0.16 to 1.32) preoperatively; 0.55 (−0.04 to 1.32) at 1 month, 0.52 (−0.1 to 1.32) at 3 months, and 0.50 (0.0 to 1.32) at 6 months postoperatively; and 0.6 (0.0 to 1.4) at final visit (P=0.0011). There was no difference in the frequency of anti-VEGF injections between the immediate 6 months before and after phacoemulsification, which was equal to 0.1667 injections per month (P=0.6377). Median CMT measured 203 μm preoperatively, which temporarily increased to 238 μm at 1 month after surgery (P=0.0093) and then spontaneously returned to baseline, measuring 212.5 μm at 3 months postoperatively (P=0.3811). Conclusion. Phacoemulsification surgery significantly improved vision in patients with neovascular AMD, with no increased need for anti-VEGF injections to keep the macula dry postoperatively.

The insurance industry plays an important role for European economic stability and the threats and opportunities it faces should be carefully determined. In this paper we highlight the main challenges by using a Political, Economic, Social and Technological (PEST) analysis. This work applies conventional actuarial thought on this area by focusing strictly on the European sector.

A large body of literature on the favorite–longshot bias finds that sports bettors in a variety of markets appear to have irrational biases toward either longshots (which offer a small chance of winning a large amount of money) or favorites (which offer a high chance of winning a small amount of money). While early studies in horse racing led to an impression that longshot bias is dominant, favorite bias has also now been found in a variety of sports betting markets. This review proposes that the evidence is consistent with both biases being present in the average sports bettor. Sports betting markets with only two potential outcomes, where the favorite therefore has a probability >0.5 of happening, often produce favorite bias. Sports betting markets with multiple outcomes, where the favorite’s probability is usually <0.5, appear more consistent with longshot bias. The presence of restricted odds ranges within any given betting market provides an explanation for why single studies support, at most, one bias. This literature review highlights how individual sports bettors might possess biases toward both highly likely, and highly unlikely, events, a contradictory view that has not been summarized in detail before.

Traditional challenges insurers face include: (1) asymmetric information—the inability to price a policyholder correctly; (2) moral hazards—the change of attitude following cover; and (3) claims management. In this chapter, we discuss how disruptive technologies are evolving in the insurance sector and the challenges faced in their implementation. We show how large and continuous datasets are transforming the general insurance markets and their business processes, as well as enticing desirable policyholder behaviour and streamlining claims management. We then discuss how artificial intelligence is improving traditional insurance processes from the first point of contact to claims management. We also examine the use of artificial intelligence as a means of interacting with prospective clients and existing policyholders. Finally, we explain how blockchain technology can transform the structure of the insurance market to a peer-to-peer format.