Efficiency in Betting Markets: Evidence from English Football
AbstractWe analyze the efficiency of English football betting markets between 2002 and 2006. We find evidence of a positive favourite-longshot bias for both home odds and away odds. Draw odds are instead characterized by a negative longshot bias. We also identify a draw bias in the sense that betting at draw odds yields a higher return than betting at home or away odds. Finally, we investigate betting strategies that exploit the variance of odds between bookmakers.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Buckingham Press in its journal Journal of Prediction Markets.
Volume (Year): 1 (2007)
Issue (Month): 1 (February)
Contact details of provider:
Web page: http://www.ubpl.co.uk/
Find related papers by JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Nilsson, Håkan & Andersson, Patric, 2010. "Making the seemingly impossible appear possible: Effects of conjunction fallacies in evaluations of bets on football games," Journal of Economic Psychology, Elsevier, vol. 31(2), pages 172-180, April.
- Karen Croxson & J. James Reade, 2011. "Exchange vs Dealers: A High-Frequency Analysis of In-Play Betting Prices," Discussion Papers 11-19, Department of Economics, University of Birmingham.
- Herman O. Stekler & David Sendor & Richard Verlander, 2009.
"Issues in Sports Forecasting,"
2009-002, The George Washington University, Department of Economics, Research Program on Forecasting.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.