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Information and Idiosyncratic Risk in the NCAA Men's Basketball Betting Market

  • Ira Horowitz

    (University of Florida)

Registered author(s):

    Betting lines and scores from the 2009/10 college basketball season for 169 mid-major and major colleges are used to verify the efficiency hypothesis for the betting-market analogy to the CAPM-based market model. As in that model, the portion of the variance in the spreads that is unexplained by the betting lines is the idiosyncratic risk associated with a team’s games. The paper shows that this risk is due to team-specific and conference-specific informational and consistency-of-play factors that impact bettors’ decisions.

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    File URL: http://www.ubplj.org/index.php/jgbe/article/view/572
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    Article provided by University of Buckingham Press in its journal Journal of Gambling Business and Economics.

    Volume (Year): 5 (2011)
    Issue (Month): 3 (October)
    Pages: 27-42

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    Handle: RePEc:buc:jgbeco:v:5:y:2011:i:3:p:27-42
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