Forecasting Soccer Matches With Betting Odds: A Tale of Two Markets
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Whelan, Karl & Hegarty, Tadgh, 2023. "Forecasting Soccer Matches With Betting Odds: A Tale of Two Markets," CEPR Discussion Papers 17949, C.E.P.R. Discussion Papers.
References listed on IDEAS
- Tadgh Hegarty, 2021. "Information and price efficiency in the absence of home crowd advantage," Applied Economics Letters, Taylor & Francis Journals, vol. 28(21), pages 1902-1907, December.
- Angelini, Giovanni & De Angelis, Luca, 2019. "Efficiency of online football betting markets," International Journal of Forecasting, Elsevier, vol. 35(2), pages 712-721.
- Whelan, Karl & Hegarty, Tadgh, 2023.
"Calculating The Bookmaker's Margin: Why Bets Lose More On Average Than You Are Warned,"
MPRA Paper
116924, University Library of Munich, Germany.
- Whelan, Karl & Hegarty, Tadgh, 2023. "Calculating The Bookmaker's Margin: Why Bets Lose More On Average Than You Are Warned," CEPR Discussion Papers 17948, C.E.P.R. Discussion Papers.
- Gray, Philip K & Gray, Stephen F, 1997. "Testing Market Efficiency: Evidence from the NFL Sports Betting Market," Journal of Finance, American Finance Association, vol. 52(4), pages 1725-1737, September.
- Michael Cain & David Law & David Peel, 2000. "The Favourite‐Longshot Bias and Market Efficiency in UK Football betting," Scottish Journal of Political Economy, Scottish Economic Society, vol. 47(1), pages 25-36, February.
- Berkowitz, Jason P. & Depken, Craig A. & Gandar, John M., 2017. "A favorite-longshot bias in fixed-odds betting markets: Evidence from college basketball and college football," The Quarterly Review of Economics and Finance, Elsevier, vol. 63(C), pages 233-239.
- Pope, Peter F & Peel, David A, 1989. "Information, Prices and Efficiency in a Fixed-Odds Betting Market," Economica, London School of Economics and Political Science, vol. 56(223), pages 323-341, August.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Hegarty, Tadgh & Whelan, Karl, 2023.
"Do Gamblers Understand Complex Bets? Evidence From Asian Handicap Betting on Soccer,"
MPRA Paper
117244, University Library of Munich, Germany.
- Whelan, Karl & Hegarty, Tadgh, 2023. "Do Gamblers Understand Complex Bets? Evidence From Asian Handicap Betting on Soccer," CEPR Discussion Papers 18153, C.E.P.R. Discussion Papers.
- Karl Whelan, 2024.
"Risk aversion and favourite–longshot bias in a competitive fixed‐odds betting market,"
Economica, London School of Economics and Political Science, vol. 91(361), pages 188-209, January.
- Whelan, Karl, 2022. "Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market," CEPR Discussion Papers 17518, C.E.P.R. Discussion Papers.
- Whelan, Karl, 2023. "Risk Aversion and Favorite-Longshot Bias in a Competitive Fixed-Odds Betting Market," MPRA Paper 116923, University Library of Munich, Germany.
- Whelan, Karl, 2023.
"Fortune's Formula or the Road to Ruin? The Generalized Kelly Criterion With Multiple Outcomes,"
MPRA Paper
116927, University Library of Munich, Germany.
- Whelan, Karl, 2023. "Fortune's Formula or the Road to Ruin? The Generalized Kelly Criterion With Multiple Outcomes," CEPR Discussion Papers 18060, C.E.P.R. Discussion Papers.
- Whelan, Karl & Hegarty, Tadgh, 2023.
"Disagreement and Market Structure in Betting Markets: Theory and Evidence from European Soccer,"
CEPR Discussion Papers
18144, C.E.P.R. Discussion Papers.
- Hegarty, Tadgh & Whelan, Karl, 2023. "Disagreement and Market Structure in Betting Markets: Theory and Evidence from European Soccer," MPRA Paper 117243, University Library of Munich, Germany.
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.- David Winkelmann & Marius Ötting & Christian Deutscher & Tomasz Makarewicz, 2024. "Are Betting Markets Inefficient? Evidence From Simulations and Real Data," Journal of Sports Economics, , vol. 25(1), pages 54-97, January.
- Pascal Flurin Meier & Raphael Flepp & Egon Franck, 2021. "Are sports betting markets semistrong efficient? Evidence from the COVID-19 pandemic," Working Papers 387, University of Zurich, Department of Business Administration (IBW).
- Kai Fischer & Justus Haucap, 2022. "Home advantage in professional soccer and betting market efficiency: The role of spectator crowds," Kyklos, Wiley Blackwell, vol. 75(2), pages 294-316, May.
- Angelini, Giovanni & De Angelis, Luca & Singleton, Carl, 2022.
"Informational efficiency and behaviour within in-play prediction markets,"
International Journal of Forecasting, Elsevier, vol. 38(1), pages 282-299.
- Giovanni Angelini & Luca De Angelis & Carl Singleton, 2019. "Informational efficiency and behaviour within in-play prediction markets," Economics Discussion Papers em-dp2019-20, Department of Economics, University of Reading, revised 01 Apr 2021.
- 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.
- Salvatore Caruso & Giuseppe Pernagallo, 2021. "On the efficiency of online soccer betting markets: a new methodology based on symbolic series," Economics Bulletin, AccessEcon, vol. 41(3), pages 1451-1460.
- David Winkelmann & Christian Deutscher & Marius Ötting, 2021. "Bookmakers’ mispricing of the disappeared home advantage in the German Bundesliga after the COVID-19 break," Applied Economics, Taylor & Francis Journals, vol. 53(26), pages 3054-3064, June.
- Dagaev, Dmitry & Stoyan, Egor, 2020. "Parimutuel betting on the eSports duels: Evidence of the reverse favourite-longshot bias," Journal of Economic Psychology, Elsevier, vol. 81(C).
- Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2019.
"On the efficiency of racetrack betting market: a new test for the favourite-longshot bias,"
Applied Economics, Taylor & Francis Journals, vol. 51(54), pages 5817-5828, November.
- Jinook Jeong & Jee Young Kim & Yoon Jae Ro, 2017. "On the Efficiency of Racetrack Betting Market: A New Test for the Favorite-Longshot Bias," Working papers 2017rwp-106, Yonsei University, Yonsei Economics Research Institute.
- Hegarty, Tadgh & Whelan, Karl, 2023.
"Disagreement and Market Structure in Betting Markets: Theory and Evidence from European Soccer,"
MPRA Paper
117243, University Library of Munich, Germany.
- Whelan, Karl & Hegarty, Tadgh, 2023. "Disagreement and Market Structure in Betting Markets: Theory and Evidence from European Soccer," CEPR Discussion Papers 18144, C.E.P.R. Discussion Papers.
- J. James Reade & Carl Singleton & Alasdair Brown, 2021.
"Evaluating strange forecasts: The curious case of football match scorelines,"
Scottish Journal of Political Economy, Scottish Economic Society, vol. 68(2), pages 261-285, May.
- J. James Reade & Carl Singleton & Alasdair Brown, 2019. "Evaluating Strange Forecasts: The Curious Case of Football Match Scorelines," Economics Discussion Papers em-dp2019-18, Department of Economics, University of Reading, revised 01 Aug 2020.
- 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.
- Gross, Johannes & Rebeggiani, Luca, 2018. "Chance or Ability? The Efficiency of the Football Betting Market Revisited," MPRA Paper 87230, University Library of Munich, Germany.
- Goto, Shingo & Yamada, Toru, 2023. "What drives biased odds in sports betting markets: Bettors’ irrationality and the role of bookmakers," International Review of Economics & Finance, Elsevier, vol. 86(C), pages 252-270.
- Franke, Maximilian, 2020. "Do market participants misprice lottery-type assets? Evidence from the European soccer betting market," The Quarterly Review of Economics and Finance, Elsevier, vol. 75(C), pages 1-18.
- Maschke Mario & Schmidt Ulrich, 2011.
"Das Wettmonopol in Deutschland: Status quo und Reformansätze,"
Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 60(1), pages 110-124, April.
- Maschke, Mario & Schmidt, Ulrich, 2010. "Das Wettmonopol in Deutschland: Status Quo und Reformansätze," Kiel Policy Brief 18, Kiel Institute for the World Economy (IfW Kiel).
- Maschke, Mario & Schmidt, Ulrich, 2010. "Das Wettmonopol in Deutschland: Status Quo und Reformansätze," Open Access Publications from Kiel Institute for the World Economy 32848, Kiel Institute for the World Economy (IfW Kiel).
- Jaiho Chung & Joon Ho Hwang, 2010. "An Empirical Examination of the Parimutuel Sports Lottery Market versus the Bookmaker Market," Southern Economic Journal, John Wiley & Sons, vol. 76(4), pages 884-905, April.
- Alexis Direr, 2013.
"Are betting markets efficient? Evidence from European Football Championships,"
Applied Economics, Taylor & Francis Journals, vol. 45(3), pages 343-356, January.
- Alexis Direr, 2013. "Are betting markets efficient? Evidence from European Football Championships," Applied Economics, Taylor & Francis Journals, vol. 45(3), pages 343-356, January.
- Alexis Direr, 2011. "Are Betting Markets Efficient ? Evidence from European Football Championships," Post-Print hal-00734531, HAL.
- Fragiskos Archontakis & Evan Osborne, 2007. "Playing It Safe? A Fibonacci Strategy for Soccer Betting," Journal of Sports Economics, , vol. 8(3), pages 295-308, June.
- Guy Elaad, 2020. "Home-field advantage and biased prediction markets in English soccer," Applied Economics Letters, Taylor & Francis Journals, vol. 27(14), pages 1170-1174, July.
- Ioannis Asimakopoulos & John Goddard, 2004. "Forecasting football results and the efficiency of fixed-odds betting," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(1), pages 51-66.
More about this item
Keywords
Sports Forecasting; Betting Markets; Market Efficiency; Asian Handicap;All these keywords.
JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
- L8 - Industrial Organization - - Industry Studies: Services
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
NEP fields
This paper has been announced in the following NEP Reports:- NEP-SEA-2023-05-08 (South East Asia)
- NEP-SPO-2023-05-08 (Sports and Economics)
Statistics
Access and download statisticsCorrections
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:pra:mprapa:116925. 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: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.