The Importance of Betting Early
AbstractWe analyze more than 1,250,000 bets on Italian soccer league matches. Our findings show that bettors do not improve their performance as the season progresses. We obtain evidence that early bettors, who place bets the days before the match, performed better then late bettors, who place bets on the same day of the event. We attribute this outcome to the increase of noisy information released the last day impairing late bettors’ capacity to use very simple prediction methods, such as team rankings or last match result.
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Bibliographic InfoPaper provided by University of Siena in its series Labsi Experimental Economics Laboratory University of Siena with number 037.
Date of creation: Jan 2012
Date of revision:
sport forecasting; information overload; betting; prediction methods.;
Other versions of this item:
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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