The Fibonacci Strategy Revisited: Can You Really Make Money by Betting on Soccer Draws?
AbstractThis article investigates the strategy of betting on soccer draws using the Fibonacci sequence. In the previous literature, this strategy has been found to be both simple and profitable, indicating that the soccer betting market is not efficient. The strategy is tested both in a simulated market and on a real data set of almost 60,000 European soccer matches. Contrary to the previous findings in the literature, all tested versions of the Fibonacci betting strategy are found to lose money.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 47649.
Date of creation: 17 Jun 2013
Date of revision:
Fibonacci betting strategy; market efficiency;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Recreation; Tourism
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