Information, Prices and Efficiency in a Fixed-Odds Betting Market
This paper examines the efficiency of the Association Football betting market in the United Kingdom. The notable features of this market are that the odds are fixed some time before matches occur and differ between bookmaking firms. While there is some evidence of ex post inefficiency, there does not appear to be profitable betting strategies that could have been implemented ex ante during the sample period. Copyright 1989 by The London School of Economics and Political Science.
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Volume (Year): 56 (1989)
Issue (Month): 223 (August)
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