IDEAS home Printed from https://ideas.repec.org/a/eee/jfinec/v30y1991i2p311-323.html
   My bibliography  Save this article

The degree of inefficiency in the football betting market : Statistical tests

Author

Listed:
  • Golec, Joseph
  • Tamarkin, Maurry

Abstract

No abstract is available for this item.

Suggested Citation

  • Golec, Joseph & Tamarkin, Maurry, 1991. "The degree of inefficiency in the football betting market : Statistical tests," Journal of Financial Economics, Elsevier, vol. 30(2), pages 311-323, December.
    • Handle: RePEc:eee:jfinec:v:30:y:1991:i:2:p:311-323
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/0304-405X(91)90034-H
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Donald B. Hausch & William T. Ziemba, 1985. "Transactions Costs, Extent of Inefficiencies, Entries and Multiple Wagers in a Racetrack Betting Model," Management Science, INFORMS, vol. 31(4), pages 381-394, April.
    2. Richard E. Quandt, 1986. "Betting and Equilibrium," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(1), pages 201-207.
    3. Sauer, Raymond D & Brajer, Vic & Ferris, Stephen P & Marr, M Wayne, 1988. "Hold Your Bets: Another Look at the Efficiency of the Gambling Market for National Football League Games: Comment," Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 206-213, February.
    4. Roger C. Vergin & Michael Scriabin, 1978. "Winning Strategies for Wagering on National Football League Games," Management Science, INFORMS, vol. 24(8), pages 809-818, April.
    5. Asch, Peter & Malkiel, Burton G. & Quandt, Richard E., 1982. "Racetrack betting and informed behavior," Journal of Financial Economics, Elsevier, vol. 10(2), pages 187-194, July.
    6. Donald B. Hausch & William T. Ziemba & Mark Rubinstein, 1981. "Efficiency of the Market for Racetrack Betting," Management Science, INFORMS, vol. 27(12), pages 1435-1452, December.
    7. Bassett, Gilbert W, Jr, 1981. "Point Spreads versus Odds," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 752-768, August.
    8. Ali, Mukhtar M, 1977. "Probability and Utility Estimates for Racetrack Bettors," Journal of Political Economy, University of Chicago Press, vol. 85(4), pages 803-815, August.
    9. Amoako-Adu, Ben & Marmer, Harry & Yagil, Joseph, 1985. "The efficiency of certain speculative markets and gambler behavior," Journal of Economics and Business, Elsevier, vol. 37(4), pages 365-378, December.
    10. repec:bla:econom:v:54:y:1987:i:215:p:289-98 is not listed on IDEAS
    11. Snyder, Wayne W, 1978. "Horse Racing: Testing the Efficient Markets Model," Journal of Finance, American Finance Association, vol. 33(4), pages 1109-1118, September.
    12. Lyn D. Pankoff, 1968. "Market Efficiency and Football Betting," The Journal of Business, University of Chicago Press, vol. 41, pages 203-203.
    13. repec:bla:jfinan:v:43:y:1988:i:4:p:995-1008 is not listed on IDEAS
    14. Jaffe, Jeffrey F & Winkler, Robert L, 1976. "Optimal Speculation against an Efficient Market," Journal of Finance, American Finance Association, vol. 31(1), pages 49-61, March.
    15. Brian R. Canfield & Bruce C. Fauman & William T. Ziemba, 1987. "Efficient Market Adjustment of Odds Prices to Reflect Track Biases," Management Science, INFORMS, vol. 33(11), pages 1428-1439, November.
    16. Zuber, Richard A & Gandar, John M & Bowers, Benny D, 1985. "Beating the Spread: Testing the Efficiency of the Gambling Market for National Football League Games," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 800-806, August.
    17. P. Tryfos & S. Casey & S. Cook & G. Leger & B. Pylypiak, 1984. "The Profitability of Wagering on NFL Games," Management Science, INFORMS, vol. 30(1), pages 123-132, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yoon Tae Sung & Scott Tainsky, 2014. "The National Football League Wagering Market," Journal of Sports Economics, , vol. 15(4), pages 365-384, August.
    2. Ziemba, William, 2020. "Parimutuel betting markets: racetracks and lotteries revisited," LSE Research Online Documents on Economics 118873, London School of Economics and Political Science, LSE Library.
    3. Stekler, H.O. & Sendor, David & Verlander, Richard, 2010. "Issues in sports forecasting," International Journal of Forecasting, Elsevier, vol. 26(3), pages 606-621, July.
      • Herman O. Stekler & David Sendor & Richard Verlander, 2009. "Issues in Sports Forecasting," Working Papers 2009-002, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
    4. Vergin, Roger C. & Sosik, John J., 1999. "No place like home: an examination of the home field advantage in gambling strategies in NFL football," Journal of Economics and Business, Elsevier, vol. 51(1), pages 21-31, January.
    5. Miller, Thomas W. & Rapach, David E., 2013. "An intra-week efficiency analysis of bookie-quoted NFL betting lines in NYC," Journal of Empirical Finance, Elsevier, vol. 24(C), pages 10-23.
    6. Woodland, Bill M & Woodland, Linda M, 1991. "The Effects of Risk Aversion on Wagering: Point Spread versus Odds," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 638-653, June.
    7. Robert Arscott, 2023. "Market Efficiency and Censoring Bias in College Football Gambling," Journal of Sports Economics, , vol. 24(5), pages 664-689, June.
    8. Russell Sobel & S. Travis Raines, 2003. "An examination of the empirical derivatives of the favourite-longshot bias in racetrack betting," Applied Economics, Taylor & Francis Journals, vol. 35(4), pages 371-385.
    9. Joshua D. Pitts, 2016. "Determinants of Success in the National Football League’s Postseason," Journal of Sports Economics, , vol. 17(1), pages 86-111, January.
    10. Sathya Ramesh & Ragib Mostofa & Marco Bornstein & John Dobelman, 2019. "Beating the House: Identifying Inefficiencies in Sports Betting Markets," Papers 1910.08858, arXiv.org, revised Oct 2019.
    11. Adi Schnytzer & Guy Weinberg, 2008. "Testing for Home Team and Favorite Biases in the Australian Rules Football Fixed-Odds and Point Spread Betting Markets," Journal of Sports Economics, , vol. 9(2), pages 173-190, April.
    12. Marshall Gramm & Douglas H. Owens, 2006. "Efficiency in Pari‐Mutuel Betting Markets across Wagering Pools in the Simulcast Era," Southern Economic Journal, John Wiley & Sons, vol. 72(4), pages 926-937, April.
    13. Tim Kuypers, 2000. "Information and efficiency: an empirical study of a fixed odds betting market," Applied Economics, Taylor & Francis Journals, vol. 32(11), pages 1353-1363.
    14. Quitzau, Jörn, 2005. "Faktor Zufall als Spielverderber: zur Prognostizierbarkeit von Fußballergebnissen – Wettmärkte als effizienter Informationslieferant," Research Notes 18, Deutsche Bank Research.
    15. Justin Davis & Andy Fodor & Luke McElfresh & Kevin Kreiger, 2015. "Exploiting Week 2 Bias in the NFL Betting Markets," Journal of Prediction Markets, University of Buckingham Press, vol. 9(1), pages 53-67.
    16. Kenneth L. Rhoda & Gerard T. Olson & Jack M. Rappaport, 1999. "Risk Preferences And Information Flows In Racetrack Betting Markets," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(3), pages 265-285, September.
    17. Rebeggiani, Luca & Gross, Johannes, 2018. "Chance or Ability? The Efficiency of the Football Betting Market Revisited," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181563, Verein für Socialpolitik / German Economic Association.
    18. Philip W. S. Newall & Dominic Cortis, 2021. "Are Sports Bettors Biased toward Longshots, Favorites, or Both? A Literature Review," Risks, MDPI, vol. 9(1), pages 1-9, January.
    19. Quitzau, Jörn & Vöpel, Henning, 2009. "Der Faktor Zufall im Fußball: Eine empirische Untersuchung für die Saison 2007/08," HWWI Research Papers 1-22, Hamburg Institute of International Economics (HWWI).
    20. M. Sung & J. E. V. Johnson, 2010. "Revealing Weak‐Form Inefficiency in a Market for State Contingent Claims: The Importance of Market Ecology, Modelling Procedures and Investment Strategies," Economica, London School of Economics and Political Science, vol. 77(305), pages 128-147, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jfinec:v:30:y:1991:i:2:p:311-323. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505576 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.