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Football Betting As A Cyclical Learning Process

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Author Info

  • Francesc Pujol

    (ESI, Economics Sport and Intangibles research group, Department of Economics, University of Navarra)

Abstract

Based on the well established result of probability matching, we explore in this paper to what extent soccer bettors adjust their behavior taking into account the new relevant information provided by the market. We test empirically the existence of a learning process using the Quiniela bettors’ performance, the Spanish soccer betting game, for the period 1970-2000. Empirical results suggest that there is a progressive improvement in the bettors' performance attributable to the learning process. The other remaining explanatory variables follow the expected behavior.

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File URL: http://www.unav.es/facultad/econom/files/workingpapersmodule/@random497080f7805d2/1254046743_WP_UNAV_05_09.pdf
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Bibliographic Info

Paper provided by School of Economics and Business Administration, University of Navarra in its series Faculty Working Papers with number 05/09.

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Length: 32 pages
Date of creation: 27 Sep 2009
Date of revision:
Handle: RePEc:una:unccee:wp0509

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Web page: http://www.unav.es/facultad/econom

Related research

Keywords: betting market; learning process; soccer; Quiniela;

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